Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited (the "Stock Exchange") take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
FAST RETAILING CO., LTD. |
迅銷有限公司 |
(Incorporated in Japan with limited liability) |
(Stock Code:6288) |
INTERIM RESULTS ANNOUNCEMENT |
FOR THE SIX MONTHS ENDED 28 FEBRUARY 2026 |
AND |
RESUMPTION OF TRADING |
The board of directors (the "Board") of FAST RETAILING CO., LTD. (the "Parent" or "Company") is pleased to announce the consolidated results of the Company and its subsidiaries (collectively the "Group") for the six months ended 28 February 2026.
At the request of the Company, trading in its Hong Kong depositary receipts on the Stock Exchange was halted with effect from 1:00
p.m. on Thursday, 9 April 2026, pending the release of this announcement. An application will be made by the Company to the Stock Exchange for resumption of trading in the Hong Kong depositary receipts with effect from 9:00 a.m. on Friday, 10 April 2026.
(Amounts are rounded down to the nearest million yen unless otherwise stated)
-
CONSOLIDATED RESULTS
The consolidated financial results were prepared in accordance with International Financial Reporting Standards ("IFRS").
Consolidated Operating Results (1 September 2025 to 28 February 2026)
Revenue
Business profit
Operating profit
Profit before income taxes
Millions of yen
%
Millions of yen
%
Millions of yen
%
Millions of yen
%
Six months ended 28 February 2026
2,055,227
14.8
386,963
28.3
400,666
31.7
428,805
17.9
Six months ended 28 February 2025
1,790,198
12.0
301,671
20.1
304,217
18.3
363,724
21.5
(Note) Business profit = Revenue - Cost of sales - Selling, general, and administrative expenses
Profit for the period
Profit attributable to owners of the Parent
Total comprehensive income for the period
Basic earnings per share for the
period
Diluted earnings per share for the
period
Millions of yen
%
Millions of yen
%
Millions of yen
%
Yen
Yen
Six months ended 28 February 2026
302,143
21.2
279,290
19.6
503,633
57.4
910.25
909.00
Six months ended 28 February 2025
249,282
19.0
233,566
19.2
320,025
4.0
761.38
760.21
Consolidated Financial Position
Total assets
Total equity
Equity attributable to owners
of the Parent
Ratio of equity attributable to owners
of the Parent to total assets
Equity per share attributable to owners
of the Parent
Millions of
yen
Millions of
yen
Millions of
yen
%
Yen
As at 28 February 2026
4,299,044
2,708,483
2,632,460
61.2
8,579.27
As at 31 August 2025
3,859,353
2,327,501
2,273,115
58.9
7,408.65
-
DIVIDENDS
(Declaration date)
Dividend per share
First quarter period end
Second quarter period end
Third quarter period end
Year end
Total
Yen
Yen
Yen
Yen
Yen
Year ended 31 August 2025
-
240.00
-
260.00
500.00
Year ending 31 August 2026
-
320.00
Year ending 31 August 2026 (forecast)
-
320.00
640.00
(Note) Revisions during this quarter of dividends forecast for fiscal year: Yes
- CONSOLIDATED BUSINESS RESULTS PROJECTION FOR YEAR ENDING 31 AUGUST 2026 (1
(% shows rate of increase/decrease from previous period)
Revenue | Business profit | Operating profit | Profit before income taxes | Profit attributable to owners of the Parent | ||||||
Year ending 31 August 2026 | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % |
3,900,000 | 14.7 | 690,000 | 25.2 | 700,000 | 24.1 | 740,000 | 13.7 | 480,000 | 10.9 | |
Basic earnings per share attributable to owners of the Parent | |
Year ending 31 August 2026 | Yen 1,564.39 |
(Note) Revisions to the most recently announced earnings forecast for the year ending 31 August 2026: Yes
* Notes
(1) Sign | ificant changes in the scope of consolidation during the current interim period | None |
(2) Changes in accounting policies and changes in accounting estimates: | ||
(i) | Changes in accounting policies to conform with IFRS accounting standard: | None |
(ii) | Other changes in accounting policies: | None |
(iii) | Changes in accounting estimates: | None |
(3) Total number of issued shares (Common stock)
(i) | Number of issued shares (including treasury stock) | As at 28 February 2026 | 318,220,968 shares | As at 31 August 2025 | 318,220,968 shares |
(ii) | Number of treasury stock | As at 28 February 2026 | 11,381,227 shares | As at 31 August 2025 | 11,401,789 shares |
(iii) | Average number of issued shares | For the six months ended 28 February 2026 | 306,829,054 shares | For the six months ended 28 February 2025 | 306,767,976 shares |
This interim results announcement is not subject to interim review procedures pursuant to the Financial Instruments and Exchange Act of Japan.
Explanation and other notes concerning proper use of the consolidated business results projection:
Statements made in these materials, such as those pertaining to future matters, including business projections, are based on information presently available to the Company and certain assumptions determined to be reasonable. Actual business results may vary materially depending on a variety of factors. For the background, assumptions and other matters regarding the business results projection, please refer to P.8 "(3) Qualitative Information Concerning Consolidated Business Results Projection".
Business Results
-
Results of Operations
The Fast Retailing Group achieved a record corporate performance, reporting significant increases in revenue and profit in the first half of fiscal 2026, or the six months from 1 September 2025 to 28 February 2026. Consolidated revenue totaled 2.0552 trillion yen (+14.8% year-on-year) and business profit, which is calculated by subtracting cost of sales and selling, general and administrative expenses from consolidated revenue, rose to 386.9 billion yen (+28.3% year-on-year). Support for the UNIQLO brand is expanding around the globe as a result of our branding strategy, which centers around the opening of flagship stores in key locations. UNIQLO business in all regions reported higher revenue and profit thanks to strong sales not only of Winter products but also of year-round products updated with on-trend silhouettes and materials. Fast Retailing's consolidated gross profit margin improved by 0.8 points year-on-year to 54.1%. The selling, general and administrative expense ratio improved by 1.2 points year-on-year to 35.3%. We recorded 28.1 billion yen under finance income net of costs, comprising 23.1 billion yen in interest income net of expenses and 5.0 billion yen from foreign exchange gains on foreign-currency denominated assets. As a result, first-half profit before income taxes increased to 428.8 billion yen (+17.9% year-on-year) and profit attributable to owners of the Parent increased to 279.2 billion yen (+19.6% year-on-year) for the period.
The Fast Retailing Group is focusing on a number of areas as part of its endeavor to become the world's No.1 brand; an essential part of everyday life that is trusted by all customers around the world. These measures include (1) Strengthening the training of management talent, (2) Pursuing a business model in which the development of business contributes to sustainability, (3) Meeting customer needs and creating new customers, (4) Diversifying global earnings pillars, (5) Expanding GU and our Global Brands, and (6) Reforming cost structures to suit an inflationary era. In particular, we aim to continue to open new high-quality stores and enhance our product development and branding at UNIQLO International as the growth pillar of the Fast Retailing Group. We are also committed to creating LifeWear in order to help build a sustainable society. Our aim is to create high-quality clothing that lasts a long time, has a lower impact on the planet, is made in healthy and safe working environments, and ultimately can be recycled or reused.
UNIQLO Japan
UNIQLO Japan reported an increase in revenue and a large expansion in profit in the first half of fiscal 2026, with revenue expanding to 581.7 billion yen (+7.4% year-on-year) and business profit rising to 110.7 billion yen (+13.4% year-on-year). First-half same-store sales (including e-commerce sales) increased by 6.5% year-on-year, with a strategically selected lineup of year-round items helping to drive overall sales, and the onset of colder weather also generating strong sales of Winter products. The gross profit margin contracted by 0.2 points year-on-year due to the rise in cost of sales caused by weaker yen forward contract exchange rates used for procurement purposes. Meanwhile, the selling, general and administrative expense ratio improved by 1.2 points year-on-year, with the strong sales performance resulting in lower personnel and store rent component ratios.
UNIQLO International
UNIQLO International reported significant increases in revenue and profit in the first half of fiscal 2026, with revenue rising to 1.2413 trillion yen (+22.4% year-on-year) and business profit expanding to 233.0 billion yen (+37.4% year-on-year).
Breaking down the UNIQLO International performance into individual regions and markets, among UNIQLO operations in the Greater China region, the Mainland China market reported a rise in first-half revenue and double-digit year-on-year growth in first-half profit. Strong sales were recorded in the second quarter from December 2025 to February 2026 following efforts to respond to warmer weather by proactively presenting styling options for bottoms, sweatshirts/pants, casual outerwear, and other Spring and year-round items during the Chinese New Year sales period. The Hong Kong market reported a rise in first-half revenue but a decline in profit. However, profit increased year-on-year when royalty fees were excluded. The Taiwan market reported higher revenue and profit.
Meanwhile, UNIQLO business in South Korea achieved double-digit growth in both revenue and profit thanks to the successful use of digital channels to communicate strategic product information, and a continued rise in support for UNIQLO primarily among younger customers. UNIQLO operations in Southeast Asia, India, and Australia reported double-digit revenue and profit growth for the first half. Our decision to strategically expand inventories of Winter products and sales floor displays contributed to the strong sales performance. Buoyant sales of bottoms, short-sleeved knitwear, linen shirts, and other Spring Summer products also helped drive higher revenue and profit figures across all operations in the region.
UNIQLO business in North America and UNIQLO business in Europe continued to generate high levels of growth by reporting double-digit growth in first-half revenue and profit. The two operations recorded double-digit growth in same-stores after HEATTECH, down, and other Winter products sold extremely well, while sweatshirts/pants, bottoms, and other year-round items also helped drive sales.
GU
GU reported a slight rise in revenue and a double-digit expansion in profit in the first half of fiscal 2026, with revenue increasing to 168.4 billion yen (+1.6% year-on-year) and business profit expanding to 15.7 billion yen (+20.1% year-on-year). Revenue was supported by strong global sales of soft sheer crew neck T-shirts, gathered ballet sneakers, and other items that captured mass fashion trends and boosted brand popularity among young people, as well as the strong sales performance of new GU stores in Taiwan and Hong Kong. The business profit margin improved on the back of improvements in the gross profit margin and the selling, general and administrative expense ratio. Those improvements were the result of ongoing operational reforms, such as the narrowing of GU product offerings and concentration on strong-selling items, as well as more accurate volume planning.
Global Brands
In the first half of fiscal 2026, Global Brands reported a decline in revenue to 62.7 billion (−7.5% year-on-year) and a loss of 0.7 billion yen under the business profit/loss category (compared to a 1.1 billion yen profit in the first half of fiscal 2025). This was due primarily to sluggish Theory brand sales. A decline in sales and a business loss at Theory business in USA was largely responsible for the decline in Theory revenue, which pushed the operation marginally to a loss position. Theory business in USA revenue contracted as a result of a sluggish wholesale business with poor-performing department stores and the closure of ecommerce outlet stores in the USA in March 2025. On the profit front, the overall loss at Theory was caused primarily by the recording of bad debts after a wholesale department store customer filed for bankruptcy. Regarding other labels in the Global Brands segment, PLST reported higher revenue and double-digit profit growth in the first half thanks to strong sales of menswear items such as rayon blend shirts and Precious Knit Melton items, along with a sharp rise in e-commerce sales. Finally, our combined Comptoir des Cotonniers and Princesse tam.tam business reported a decline in revenue, owing to a reduction in the number of stores at end-February by roughly 50% compared to the previous year, as part of overall restructuring efforts and our drive to create a concentrated urban network. However, the reduction in unprofitable stores and reformed cost structures help improve the selling, general and administrative expense ratio and reduce overall losses.
Sustainability
Fast Retailing is advancing its LifeWear concept-the ultimate in everyday clothing, designed to make everyone's life better-to create apparel that emphasizes quality, design and price, as well as being environmentally friendly, protecting human rights and contributing to society. The main sustainability activities in the second quarter of fiscal 2026 are as follows.
Fully Achieving Our Target Cotton Procurement by the End of December 2025
Based on our Responsible Raw Material Procurement Policy, we set a goal in 2018 to increase the proportion of cotton procured from farms that reduce their environmental impact in the cultivation process and have consideration for the labor conditions for farmers to 100% by the end of December 2025, and we have been working toward this goal since then. As a result, we achieved this goal by the end of December 2025.
We have updated the criteria for our preferred cotton beginning in 2026 based on these efforts. Under our new standards, we will procure only cotton that has been certified by third-party certification bodies and other organizations with specialized knowledge. In addition, we will enhance our collaboration with third-party certification bodies and other organizations to improve cotton cultivation through dialogue and engagement. Our goal is to source 100% of our cotton according to these new standards by 2030, and we are taking measures to achieve this.
Achieving Greenhouse Gas Emission Reduction Targets 4 Years Ahead of Schedule
We have set targets to achieve a 90% reduction in greenhouse gas emissions from our self-managed facilities, such as stores and offices, compared to the fiscal year ended August 2019 and a 20% reduction in greenhouse gas emissions across our supply chain (raw material production, material production, and sewing of UNIQLO and GU products) by the fiscal year ending August 2030. We have introduced renewable energy at our self-managed facilities, and at the factories of UNIQLO and GU's major suppliers. We have also implemented numerous initiatives aimed at reducing greenhouse gas emissions. As a result of these initiatives, for the fiscal year ended August 2025, we have reduced greenhouse gas emissions from our self-managed facilities by 90.3% compared to the fiscal year ended August 2019, achieving our goal 4 years ahead of schedule. In addition, we reduced greenhouse gas emissions in our supply chain by 19.9% compared to the fiscal year ended August 2019, largely achieving our goal of a 20% reduction. In November 2025, we raised our goal for supply chain greenhouse gas emission reduction from the previous goal of 20% to 30%.
Achieving a High Rating in an External Assessment of Respect for Human Rights and Labor Conditions and the Promotion of Diversity
We continue to enhance our efforts to respect human rights and labor conditions. In recent years, we have been focusing on strengthening our due diligence framework for human rights in our supply chain, enhancing traceability and transparency, and improving our complaint resolution mechanisms while providing effective remedies. In an assessment of these initiatives, we ranked 2nd in the apparel sector and 11th overall out of 105 companies in the 2026 Corporate Human Rights Benchmark (CHRB) assessment conducted by the World Benchmarking Alliance (WBA).
As we continue to expand our business globally, we are working to enhance our worldwide diversity and inclusion initiatives in our workplace, customer experience, and communities in order to create an environment that welcomes people from diverse backgrounds and characteristics, and respects differing opinions and individuality. In particular, we were recognized for our promotion of gender-neutral marketing, ranking 4th in the apparel sector and 5th overall out of 105 companies in the 2026 Gender Benchmark assessment, which was also conducted by the WBA.
Good Corporate Governance
To enable rapid and transparent management, we have a number of committees engaged in open and active discussions. In the Human Rights Committee, in addition to reports on the results of our human rights due diligence in our Japan and US operations, we presented findings from labor environment monitoring in our supply chain and the results of our hotline for factory workers, and discussed the respective challenges and our response policies. In the Risk Management Committee, we hold discussions on cybersecurity risks and countermeasures, and work to enhance our systems for preventing and detecting cyberattacks, as well as for quickly resolving incidents and ensuring business continuity in the event of an attack.
-
Financial Positions and Cash Flows Information
Financial Positions
Total assets as at 28 February 2026 were 4.2990 trillion yen, which was an increase of 439.6 billion yen relative to the end of the preceding fiscal year. The principal factors were an increase of 147.2 billion yen in cash and cash equivalents, an increase of 281.9 billion yen in other current financial assets, an increase of 76.1 billion yen in derivative financial assets, an increase of 28.2 billion yen in right-of-use assets, a decrease of 92.4 billion yen in non-current financial assets.
Total liabilities as at 28 February 2026 were 1.5905 trillion yen, which was an increase of 58.7 billion yen relative to the end of the preceding fiscal year. The principal factors were an increase of 29.2 billion yen in trade and other payables, a decrease of 37.0 billion yen in other current financial liabilities, an increase of 34.7 billion yen in lease liabilities, an increase of 11.9 billion yen in current tax liabilities, an increase of 19.0 billion yen in deferred tax liabilities.
Total net assets as at 28 February 2026 were 2.7084 trillion yen, which was an increase of 380.9 billion yen relative to the end of the preceding fiscal year. The principal factors were an increase of 199.5 billion yen in retained earnings, an increase of 159.1 billion yen in other components of equity and an increase of 21.6 billion yen in non-controlling interests.
Cash Flows Information
Cash and cash equivalents as at 28 February 2026 had increased by 147.2 billion yen from the end of the preceding fiscal year, to 1.0405 trillion yen.
(Cash Flows from Operating Activities)
Net cash generated by operating activities for the six months ended 28 February 2026 was 499.0 billion yen (298.2 billion yen was generated during the six months ended 28 February 2025). The principal factors were cash inflow from profit before tax for 428.8 billion yen, depreciation and amortization for 115.3 billion yen and a decrease in inventories for 31.5 billion yen, and cash outflow from taxes paid for 106.7 billion yen.
(Cash Flows from Investing Activities)
Net cash used in investing activities for the six months ended 28 February 2026 was 179.1 billion yen (382.1 billion yen was used during the six months ended 28 February 2025). The principal factors were net increase of 192.3 billion yen in bank deposits with original maturities of three months or longer, a 40.4 billion yen in payments for acquisition of property, plant and equipment, and a net proceeds of 64.7 billion yen for the acquisition, sale, and redemption of investment.
(Cash Flows from Financing Activities)
Net cash used in financing activities for the six months ended 28 February 2026 was 227.4 billion yen (150.2 billion yen was used during the six months ended 28 February 2025). The principal factors were 70.0 billion yen in redemption of corporate bonds, 79.7 billion yen in dividend payments and 71.5 billion yen in repayments of lease liabilities.
-
Qualitative Information Concerning Consolidated Business Results Projection
Regarding our business results projections for the year ending 31 August 2026, we have revised our full-year forecasts to reflect 1) stronger first-half results, 2) improved second-half performance assumptions based on current sales trends, and 3) updated foreign exchange rate assumptions reflecting recent yen depreciation. The table below compares our latest full-year business results projection, compared with the previous estimates announced in the "First Quarterly Results Announcement for the Three Months Ended 30 November 2025," released on 8 January 2026.
(Full financial year)
Revenue
Business profit
Operating profit
Profit before income taxes
Profit attributable
to owners of the Parent
Basic earnings per share attributable
to owners of the
Parent
Millions of yen
Millions of yen
Millions of yen
Millions of yen
Millions of yen
Yen
Previous forecast (A)
3,800,000
650,000
650,000
690,000
450,000
1,466.64
New forecast (B)
3,900,000
690,000
700,000
740,000
480,000
1,564.39
Difference (B-A)
100,000
40,000
50,000
50,000
30,000
-
Change (%)
2.6%
6.2%
7.7%
7.2%
6.7%
-
Previous results
3,400,539
551,156
564,265
650,574
433,009
1,411.44
(Note) Revisions to the most recently announced earnings forecast for the year ending 31 August 2026: Yes
-
Results of Operations
Interim Condensed Consolidated Financial Statements and Accompanying Material Notes
-
Interim Condensed Consolidated Statement of Financial Position
(Millions of yen)
Notes
As at 31 August 2025
As at 28 February 2026
ASSETS
Current assets
Cash and cash equivalents
893,239
1,040,505
Trade and other receivables
96,407
90,863
Other financial assets
899,701
1,181,645
Inventories
510,958
501,144
Derivative financial assets
94,803
128,316
Income taxes receivable
8,042
6,384
Other assets
24,662
22,321
Total current assets
2,527,815
2,971,180
Non-current assets
Property, plant and equipment
332,351
358,781
Right-of-use assets
477,111
505,397
Goodwill
8,092
8,092
Intangible assets
91,606
91,213
Financial assets
312,438
219,941
Investments in associates accounted for using
the equity method
31,361
33,112
Deferred tax assets
40,889
30,058
Derivative financial assets
33,882
76,470
Other assets
3,803
4,796
Total non-current assets
1,331,538
1,327,863
Total assets
3,859,353
4,299,044
Liabilities and equity
LIABILITIES
Current liabilities
Trade and other payables
390,149
419,424
Other financial liabilities
150,942
113,856
Derivative financial liabilities
19,250
19,525
Lease liabilities
126,830
132,734
Current tax liabilities
73,072
85,034
Provisions
1,651
1,961
Other liabilities
149,394
151,522
Total current liabilities
911,291
924,060
Non-current liabilities
Financial liabilities
141,071
141,500
Lease liabilities
386,670
415,514
Provisions
55,711
57,824
Deferred tax liabilities
22,539
41,550
Derivative financial liabilities
12,110
8,051
Other liabilities
2,457
2,058
Total non-current liabilities
620,561
666,499
Total liabilities
1,531,852
1,590,560
EQUITY
Capital stock
10,273
10,273
Capital surplus
30,998
31,652
Retained earnings
2,056,437
2,255,954
Treasury stock, at cost
(14,529)
(14,504)
Other components of equity
189,936
349,083
Equity attributable to owners of the Parent
2,273,115
2,632,460
Non-controlling interests
54,385
76,022
Total equity
2,327,501
2,708,483
Total liabilities and equity
3,859,353
4,299,044
-
Interim Condensed Consolidated Statement of Profit or Loss and Interim Condensed Consolidated Statement of Comprehensive Income
Interim Condensed Consolidated Statement of Profit or Loss
(Millions of yen)
Notes
Six months ended 28 February 2025
Six months ended 28 February 2026
Revenue
2
1,790,198
2,055,227
Cost of sales
(835,371)
(943,653)
Gross profit
954,827
1,111,574
Selling, general and administrative expenses
3
(653,155)
(724,610)
Other income
4
3,699
15,300
Other expenses
4
(2,653)
(2,831)
Share of profit of associates accounted for using
the equity method
1,499
1,234
Operating profit
304,217
400,666
Finance income
5
65,832
35,219
Finance costs
5
(6,324)
(7,081)
Profit before income taxes
363,724
428,805
Income tax expense
(114,442)
(126,661)
Profit for the period
249,282
302,143
Profit for the period attributable to:
Owners of the Parent
233,566
279,290
Non-controlling interests
15,715
22,852
Total
249,282
302,143
Earnings per share
Basic (yen)
6
761.38
910.25
Diluted (yen)
6
760.21
909.00
Interim Condensed Consolidated Statement of Comprehensive Income
(Millions of yen)
Notes
Six months ended 28 February 2025
Six months ended 28 February 2026
Profit for the period
249,282
302,143
Other comprehensive income, net of income tax
Items that may be reclassified subsequently to profit or loss
Exchange differences on translating foreign operations
265
121,908
Cash flow hedges
70,632
79,320
Share of other comprehensive income/(loss) of associates
(154)
260
Total items that may be reclassified subsequently to profit or loss
70,743
201,489
Other comprehensive income net of income tax
70,743
201,489
Total comprehensive income for the period
320,025
503,633
Attributable to:
Owners of the Parent
302,497
476,884
Non-controlling interests
17,527
26,748
Total comprehensive income for the period
320,025
503,633
-
Interim Condensed Consolidated Statement of Changes in Equity
For the six months ended 28 February 2025
(Millions of yen)
Other components of equity
Note
Capital stock
Capital surplus
Retained earnings
Treasury stock, at cost
Financial assets measured at fair value
through other comprehensive income / (loss)
Foreign currency translation reserve
Cash flow hedge reserve
Share of other comprehensive income of associates
Equity attributable to owners of the Parent
Non-controlling interests
Total equity
Total
As at 1 September 2024
10,273
29,712
1,766,073
(14,628)
(17)
140,747
84,069
305
225,104
2,016,535
51,718
2,068,254
Net changes during the period
Comprehensive income
Profit for the period
-
-
233,566
-
-
-
-
-
-
233,566
15,715
249,282
Other comprehensive
income / (loss)
-
-
-
-
-
1,637
67,448
(154)
68,930
68,930
1,812
70,743
Total comprehensive income / (loss)
-
-
233,566
-
-
1,637
67,448
(154)
68,930
302,497
17,527
320,025
Transactions with the owners of
the Parent
Acquisition of treasury stock
-
-
-
(2)
-
-
-
-
-
(2)
-
(2)
Disposal of treasury stock
-
850
-
65
-
-
-
-
-
916
-
916
Dividends
-
-
(69,016)
-
-
-
-
-
-
(69,016)
(6,647)
(75,663)
Share-based payments
-
(231)
-
-
-
-
-
-
-
(231)
-
(231)
Transfer to non-financial
assets
-
-
-
-
-
-
(54,396)
-
(54,396)
(54,396)
(190)
(54,586)
Total transactions with the owners of the Parent
-
619
(69,016)
62
-
-
(54,396)
-
(54,396)
(122,731)
(6,837)
(129,568)
Total net changes during the period
-
619
164,550
62
-
1,637
13,051
(154)
14,534
179,766
10,690
190,456
As at 28 February 2025
10,273
30,332
1,930,623
(14,566)
(17)
142,384
97,120
150
239,638
2,196,302
62,409
2,258,711
For the six months ended 28 February 2026
(Millions of yen)
Other components of equity
Note
Capital stock
Capital surplus
Retained earnings
Treasury stock, at cost
Financial assets measured at fair value
through other comprehensive income / (loss)
Foreign currency translation reserve
Cash flow hedge reserve
Share of other comprehensive income of associates
Equity attributable to owners of the Parent
Non-controlling interests
Total equity
Total
As at 1 September 2025
10,273
30,998
2,056,437
(14,529)
47
136,519
52,900
469
189,936
2,273,115
54,385
2,327,501
Net changes during the period
Comprehensive income
Profit for the period
-
-
279,290
-
-
-
-
-
-
279,290
22,852
302,143
Other comprehensive
income / (loss)
-
-
-
-
-
117,777
79,556
260
197,594
197,594
3,895
201,489
Total comprehensive income / (loss)
-
-
279,290
-
-
117,777
79,556
260
197,594
476,884
26,748
503,633
Transactions with the owners of
the Parent
Acquisition of treasury stock
-
-
-
(0)
-
-
-
-
-
(0)
-
(0)
Disposal of treasury stock
-
361
-
26
-
-
-
-
-
388
-
388
Dividends
-
-
(79,772)
-
-
-
-
-
-
(79,772)
(5,213)
(84,986)
Share-based payments
-
292
-
-
-
-
-
-
-
292
-
292
Transfer to non-financial
assets
-
-
-
-
-
-
(38,447)
-
(38,447)
(38,447)
90
(38,356)
Payment from non-controlling
shareholders
-
-
-
-
-
-
-
-
-
-
12
12
Total transactions with the owners of the Parent
-
654
(79,772)
25
-
-
(38,447)
-
(38,447)
(117,540)
(5,110)
(122,650)
Total net changes during the period
-
654
199,517
25
-
117,777
41,109
260
159,147
359,344
21,637
380,982
As at 28 February 2026
10,273
31,652
2,255,954
(14,504)
47
254,296
94,010
729
349,083
2,632,460
76,022
2,708,483
-
Interim Condensed Consolidated Statement of Cash Flows
(Millions of yen)
Notes
Six months ended 28 February 2025
Six months ended 28 February 2026
Cash flows from operating activities
Profit before income taxes
363,724
428,805
Depreciation and amortization
107,905
115,325
Impairment losses
653
473
Interest and dividend income
(33,921)
(30,246)
Interest expenses
6,324
7,081
Foreign exchange losses / (gains)
(31,910)
(4,973)
Share of (profit) / loss of associates accounted for using the
equity method
(1,499)
(1,234)
Losses on disposal of property, plant and equipment
631
762
(Increase) / Decrease in trade and other receivables
13,315
9,707
(Increase) / Decrease in inventories
13,509
31,511
Increase / (Decrease) in trade and other payables
(41,996)
18,621
(Increase) / Decrease in other assets
(1,665)
(916)
Increase / (Decrease) in other liabilities
(2,444)
28,193
Others, net
(15,392)
(27,173)
Cash generated from operations
377,234
575,938
Interest and dividends income received
34,296
34,100
Interest paid
(6,339)
(7,179)
Income taxes paid
(108,364)
(106,735)
Income taxes refunded
1,400
2,889
Net cash generated by operating activities
298,228
499,013
Cash flows from investing activities
Amounts deposited into bank deposits with original
maturities of three months or longer
(481,003)
(994,144)
Amounts withdrawn from bank deposits with original
maturities of three months or longer
295,190
801,746
Payments for property, plant and equipment
(79,696)
(40,432)
Payments for intangible assets
(14,876)
(11,878)
Payments for acquisition of right-of-use assets
(14,474)
(927)
Payments for acquisition of investments
(217,847)
(220,268)
Proceeds from sale and redemption of investments
140,510
284,999
Payments for lease and guarantee deposits
(2,881)
(2,659)
Proceeds from collection of lease and guarantee deposits
3,509
2,674
Investments in associates accounted for using the equity
method
(15,079)
-
Others, net
4,521
1,721
Net cash used in investing activities
(382,127)
(179,167)
(Millions of yen)
Notes
Six months ended 28 February 2025
Six months ended 28 February 2026
Cash flows from financing activities
Proceeds from short-term loans payable
-
599
Repayment of short-term loans payable
(15)
(1,525)
Redemption of corporate bonds
-
(70,000)
Dividends paid to owners of the Parent
(69,005)
(79,762)
Dividends paid to non-controlling interests
(9,199)
(5,213)
Repayments of lease liabilities
(72,083)
(71,581)
Others, net
62
19
Net cash used in financing activities
(150,242)
(227,463)
Effect of exchange rate changes on the balance of cash held in foreign currencies
17,912
54,882
Net increase / (decrease) in cash and cash equivalents
(216,229)
147,265
Cash and cash equivalents at the beginning of period
1,193,560
893,239
Cash and cash equivalents at the end of period
977,330
1,040,505
-
Notes to assumption of going concern
Not applicable.
-
Notes to the Interim Condensed Consolidated Financial Statements
The interim condensed consolidated financial statements were prepared in accordance with the Article 5-2 of the Tokyo Stock Exchange's standard for preparation of quarterly financial statements, omitting certain disclosures, which are required in accordance with International Auditing Standard 34 "Interim Financial Reporting", under the Article 5-5 of the Tokyo Stock Exchange's standard for preparation of quarterly financial statements.
Segment Information
Description of reportable segments
The Group's reportable segments are components for which discrete financial information is available. The segments are reviewed regularly by the Board of Directors (the "Board") to make decisions about the allocation of resources and to assess performance.
The Group's main retail clothing business is divided into four reportable operating segments: UNIQLO Japan, UNIQLO International, GU and Global Brands, each of which is used to frame and form the Group's strategy.
The main businesses covered by each reportable segment are as follows:
UNIQLO Japan
: UNIQLO clothing business within Japan
UNIQLO International
: UNIQLO clothing business outside of Japan
GU
: GU clothing business in Japan and overseas
Global Brands
: Theory, PLST, COMPTOIR DES COTONNIERS and PRINCESSE TAM. TAM clothing businesses
Segment revenue and results
For the six months ended 28 February 2025
(Millions of yen)
Reportable segments
Others (Note 1)
Adjustments (Note 2)
Interim Condensed Consolidated Statement of Profit or
Loss
UNIQLO
Japan
UNIQLO
International
GU
Global Brands
Total
Revenue
541,545
1,014,155
165,844
67,792
1,789,338
859
-
1,790,198
Operating profit / (loss)
97,669
168,548
13,910
948
281,076
106
23,033
304,217
Segment income / (loss) (i.e., Profit / (loss)
before income taxes)
100,453
170,539
15,223
873
287,089
106
76,527
363,724
Other disclosure: Impairment losses
223
316
88
25
653
-
-
653
(Note 1) "Others" includes the real estate leasing business, etc.
(Note 2) "Adjustments" mainly includes revenue and corporate expenses which are not allocated to individual reportable segments.
For the six months ended 28 February 2026
(Millions of yen)
Reportable segments
Others (Note 1)
Adjustments (Note 2)
Interim Condensed Consolidated Statement of Profit or Loss
UNIQLO
Japan
UNIQLO
International
GU
Global Brands
Total
Revenue
581,740
1,241,377
168,476
62,712
2,054,306
920
-
2,055,227
Operating profit / (loss)
111,443
234,134
16,460
(181)
361,856
61
38,748
400,666
Segment income / (loss) (i.e., Profit / (loss)
before income taxes)
113,494
235,349
16,554
(462)
364,935
61
63,807
428,805
Other disclosure: Impairment losses
29
169
97
173
470
-
3
473
(Note 1) "Others" includes the real estate leasing business, etc.
(Note 2) "Adjustments" mainly includes revenue and corporate expenses which are not allocated to individual reportable segments.
Revenue
The Group conducts its global retail operations through both physical stores and e-commerce channels. The following is a breakdown of total revenue by major regional market operation.
Six months ended 28 February 2025
Revenue (Millions of yen)
Percentage of Total (%)
Japan
541,545
30.3
Greater China
361,705
20.2
South Korea, Southeast Asia, India & Australia
320,496
17.9
North America
137,365
7.7
Europe
194,588
10.9
UNIQLO (Note 1)
1,555,701
86.9
GU (Note 2)
165,844
9.3
Global Brands (Note 3)
67,792
3.8
Others (Note 4)
859
0.0
Total
1,790,198
100.0
(Note 1) Revenue is classified by nation or region based on customer location.
The designated countries and regions are classified as follows:
Greater China
:
Mainland China, Hong Kong, Taiwan
South Korea, Southeast Asia, India & Australia
:
South Korea, Singapore, Malaysia, Thailand, the Philippines,
Indonesia, Australia, Vietnam, India
North America
:
United States of America, Canada
Europe
:
United Kingdom, France, Germany, Belgium, Spain, Sweden,
the Netherlands, Denmark, Italy, Poland, Luxembourg
(Note 2) Main national and regional market: Japan
(Note 3) Main national and regional markets: North America, Europe, Greater China, Japan (Note 4) The "Others" category includes real estate leasing operations.
Six months ended 28 February 2026
Revenue (Millions of yen)
Percentage of Total (%)
Japan
581,740
28.3
Greater China
387,773
18.9
South Korea, Southeast Asia, India & Australia
409,061
19.9
North America
177,570
8.6
Europe
266,971
13.0
UNIQLO (Note 1)
1,823,117
88.7
GU (Note 2)
168,476
8.2
Global Brands (Note 3)
62,712
3.1
Others (Note 4)
920
0.0
Total
2,055,227
100.0
(Note 1) Revenue is classified by nation or region based on customer location.
The designated countries and regions are classified as follows:
Greater China
:
Mainland China, Hong Kong, Taiwan
South Korea, Southeast Asia, India & Australia
:
South Korea, Singapore, Malaysia, Thailand, the Philippines,
Indonesia, Australia, Vietnam, India
North America
:
United States of America, Canada
Europe
:
United Kingdom, France, Germany, Belgium, Spain, Sweden,
the Netherlands, Denmark, Italy, Poland, Luxembourg
(Note 2) Main national and regional market: Japan
(Note 3) Main national and regional markets: North America, Europe, Grater China, Japan (Note 4) The "Others" category includes real estate leasing operations.
Selling, general and administrative expenses
The breakdown of selling, general and administrative expenses for each reporting period is as follows:
(Millions of yen)
Six months ended 28 February 2025
Six months ended 28 February 2026
Selling, general and administrative expenses
Advertising and promotion
60,282
64,712
Rent expenses
65,807
75,310
Depreciation and amortization
107,115
113,962
Outsourcing
35,373
39,663
Salaries
234,107
262,811
Distribution
76,533
88,768
Others
73,935
79,382
Total
653,155
724,610
Other income and other expenses
The breakdown of other income and other expenses for each reporting period is as follows:
(Millions of yen)
Six months ended 28 February 2025
Six months ended 28 February 2026
Other income
Foreign exchange gains (Note)
994
12,081
Others
2,704
3,218
Total
3,699
15,300
(Note) Foreign exchange gains incurred in the course of operating transactions are included in "Other income".
(Millions of yen)
Six months ended 28 February 2025
Six months ended 28 February 2026
Other expenses
Loss on retirement of property, plant and equipment
631
762
Impairment losses
653
473
Others
1,367
1,594
Total
2,653
2,831
Finance income and finance costs
The breakdown of finance income and finance costs for each reporting period is as follows:
(Millions of yen)
Six months ended 28 February 2025
Six months ended 28 February 2026
Finance income
Foreign exchange gains (Note)
31,910
4,973
Interest income
33,921
30,246
Others
0
0
Total
65,832
35,219
(Note) Foreign exchange gains incurred in the course of non-operating transactions are included in "Finance income".
(Millions of yen)
Six months ended 28 February 2025
Six months ended 28 February 2026
Finance costs
6,324
7,081
Interest expenses
Total
6,324
7,081
Earnings per share
Six months ended 28 February 2025
Six months ended 28 February 2026
Equity per share attributable to owners of the Parent (Yen)
7,158.97
Equity per share attributable to owners of the Parent (Yen)
8,579.27
Basic earnings per share for the period
(Yen)
761.38
Basic earnings per share for the period
(Yen)
910.25
Diluted earnings per share for the period
(Yen)
760.21
Diluted earnings per share for the period
(Yen)
909.00
(Note) The basis for calculation of basic earnings per share and diluted earnings per share is as follows:
Six months ended 28 February 2025
Six months ended 28 February 2026
Basic earnings per share for the period
Profit for the period attributable to owners of the Parent (Millions of yen)
233,566
279,290
Profit not attributable to common shareholders (Millions of yen)
-
-
Profit attributable to common shareholders (Millions of yen)
233,566
279,290
Average number of common stock outstanding during the period (Shares)
306,767,976
306,829,054
Diluted earnings per share for the period
Adjustment to profit (Millions of yen)
-
-
Increase in number of common stock (Shares)
471,101
422,319
(Number of share subscription rights included in the increase)
(471,101)
(422,319)
Subsequent events Not applicable.
-
Interim Condensed Consolidated Statement of Financial Position
Resumption of Trading
At the request of the Company, trading in its Hong Kong depositary receipts on the Stock Exchange was halted with effect from 1:00
p.m. on Thursday, 9 April 2026, pending the release of this announcement. An application will be made by the Company to the Stock Exchange for resumption of trading in the Hong Kong depositary receipts with effect from 9:00 a.m. on Friday, 10 April 2026.
On behalf of the Board |
FAST RETAILING CO., LTD. |
Tadashi Yanai |
Chairman, President and Chief Executive Officer |
Japan, 9 April 2026
As at the date of this announcement, the Executive Directors are Tadashi Yanai, Takeshi Okazaki, Kazumi Yanai, Koji Yanai, and Daisuke Tsukagoshi, and the Independent Non-executive Directors are Masaaki Shintaku, Naotake Ono, Kathy Mitsuko Koll (aka Kathy Matsui), Joji Kurumado, Yutaka Kyoya, and Takeshi Kunibe.
-
