Fast Retailing (9983) Q3 2025 earnings summary

Executive summary

• Achieved record revenue and profit for the nine months to May 2025, with operating profit up 12.2% to ¥450.9bn, driven by strong UNIQLO performance globally.

• Profit attributable to owners increased 8.4% year-over-year to ¥339.0bn.

• Gross profit margin declined by 0.2 points to 53.8%, while SG&A ratio improved to 36.9%.

• Net finance income reached ¥69.5bn, mainly from net interest income and foreign exchange gains.

• Growth driven by strong UNIQLO performance in Japan, Europe, North America, Southeast Asia, India & Australia, and South Korea.

Financial highlights

• Nine-month revenue rose 10.6% year-over-year to ¥2,616.7bn; operating profit up 12.2% to ¥450.9bn.

• Basic earnings per share was ¥1,105.36, up from ¥1,020.02 year-over-year.

• Total assets as of May 31, 2025, were ¥3,698.2bn, with total equity at ¥2,167.8bn and an equity ratio of 57.2%.

• Cash and cash equivalents at ¥991.7bn at end-May 2025, down ¥201.7bn from previous year.

• Net cash generated by operating activities was ¥427.1bn; investing and financing outflows were ¥372.3bn and ¥271.4bn, respectively.

Outlook and guidance

• FY2025 estimates unchanged, expecting record annual performance with revenue of ¥3,400bn and operating profit of ¥545bn.

• Full-year profit attributable to owners forecast at ¥410bn, up 10.2% year-over-year.

• Dividend forecast for FY2025 is ¥480 per share, up from ¥400 in FY2024.

• Excluding forex impact, revenue and profit expected to rise by 10–12%.

• Anticipated impairment losses of ¥4.0bn related to structural reforms at Comptoir des Cotonniers and Princesse tam.tam.