Japanese Fast Retailing Quarterly Profits Up 33%

Fast Retailing is the largest apparel retailer in the Asia region. She announced that it ended the 4th fiscal quarter with an increase in net profit to 93.6 billion yen, which corresponds to 816 million dollars. Compared to the same quarter of the previous year, the growth was 33%. The indicator significantly exceeded the forecast of analysts. They had expected net profit to rise to only 72.3 billion yen. The company’s revenue increased by 1.2% to 619.7 billion yen. Fast Retailing announced that the results of the current fiscal year, which will end in August, will demonstrate a 3% increase in net income. It will be 175 billion yen. Revenue will increase to 2.2 trillion yen or 3.1%. The company’s share price at auction in Tokyo fell 1.9%. The report was released after the exchange closed. Fast Retailing’s capitalization has shrunk over the past 12 months by 37% to 6.1 trillion yen. The company was founded in 1963. It has been operating in the Russian market since 2009.


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Arseny Kudrin

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