October 14, 2021
Fast Retailing Results for
FY2021 and Estimates for
FY2022
Takeshi Okazaki
Fast Retailing Co., Ltd.
Group Senior Executive Officer & CFO
1
Contents | ||||
I. Results for FY2021 | P 3 ~ P 22 | |||
II. Estimates for FY2022 | P 23 ~ P 31 | |||
III.Reference | P 32 ~ P 34 | |||
Disclosure of Corporate Performance | ||||
Following the Group's adoption of International Financial Reporting Standards (IFRS) from the | ||||
year ending August 31, 2014, all data in this document are calculated using IFRS standards. | ||||
Business profit = Revenue - (Cost of sales + SG&A expenses) | ||||
Group Operations: | ||||
UNIQLO Japan: | UNIQLO Japan operations | |||
UNIQLO International: | All UNIQLO operations outside of Japan | |||
GU: | All GU operations inside and outside Japan | |||
Global Brands: | Theory, PLST, Comptoir des Cotonniers, Princesse tam.tam, J Brand | |||
Consolidated results also include Fast Retailing Co., Ltd. performance and consolidated adjustments. | ||||
A Note on Business Forecasts | ||||
When compiling business estimates, plans and target figures in this document, the figures that | ||||
are not historical facts are forward looking statements based on management's judgment in | ||||
light of currently available information. These business forecasts, plans and target figures may | ||||
vary materially from the actual business results depending on the economic environment, our | ||||
response to market demand and price competition, and changes in exchange rates. | 2 | |||
Group: FY2021 (Sep. 2020 - Aug. 2021)
Large profit rise. Operating profit roughly to plan.
UNIQLO-driven recovery
Billions of Yen | |||||||||
Yr to Aug.2020 | Yr to Aug.2021 | ||||||||
Actual | 1H Actual | 2H Actual | Full Year | ||||||
Latest est. | |||||||||
y/y | y/y | Actual | y/y | ||||||
(Jul.15) | |||||||||
Revenue | 2,008.8 | 1,202.8 | -0.5% | 930.1 | +16.2% | 2,132.9 | +6.2% | 2,150.0 | |
(to revenue) | 100.0% | 100.0% | - | 100.0% | - | 100.0% | - | 100.0% | |
Gross profit | 975.8 | 600.4 | +4.1% | 473.5 | +18.7% | 1,073.9 | +10.1% | - | |
(to revenue) | 48.6% | 49.9% | +2.2p | 50.9% | +1.0p | 50.3% | +1.7p | - | |
SG&A | 805.8 | 420.7 | -4.1% | 397.6 | +8.4% | 818.4 | +1.6% | - | |
(to revenue) | 40.1% | 35.0% | -1.3p | 42.8% | -3.1p | 38.4% | -1.7p | - | |
Business profit | 170.0 | 179.7 | +30.2% | 75.8 | +136.7% | 255.5 | +50.3% | 255.0 | |
(to revenue) | 8.5% | 14.9% | +3.5p | 8.2% | +4.2p | 12.0% | +3.5p | 11.9% | |
Other income, expenses | -20.6 | -11.7 | - | 5.2 | - | -6.5 | - | -10.0 | |
(to revenue) | - | - | - | 0.6% | - | - | - | - | |
Operating profit | 149.3 | 167.9 | +22.9% | 81.0 | +542.6% | 249.0 | +66.7% | 245.0 | |
(to revenue) | 7.4% | 14.0% | +2.7p | 8.7% | +7.1p | 11.7% | +4.3p | 11.4% | |
Finance income, costs | 3.5 | 3.4 | -75.2% | 13.3 | - | 16.8 | +378.8% | 17.7 | |
(to revenue) | 0.2% | 0.3% | -0.9p | 1.4% | - | 0.8% | +0.6p | 0.8% | |
Profit before income taxes | 152.8 | 171.4 | +13.7% | 94.3 | - | 265.8 | +73.9% | 262.7 | |
(to revenue) | 7.6% | 14.3% | +1.8p | 10.1% | +9.8p | 12.5% | +4.9p | 12.2% | |
Profit attributable to | 90.3 | 105.8 | +5.4% | 63.9 | - | 169.8 | +88.0% | 165.0 | |
owners of the parent | |||||||||
(to revenue) | 4.5% | 8.8% | +0.5p | 6.9% | - | 8.0% | +3.5p | 7.7% |
3
Group: FY2021 Operating Profit
Revenue | ||||||||||||
¥2.0088trln→ ¥2.1329trln (+¥124.1bln) | Average forex impact +1.9% y/y | |||||||||||
1H | 2H | FY | ||||||||||
1H | 2H | FY | ||||||||||
Group | −¥5.6bln | +¥129.7bln | +¥124.1bln | Group | ±0.0% | +3.9% | +1.9% | |||||
UQ Japan | +¥28.9bln | +¥6.7bln | +¥35.7bln | |||||||||
USD | −3.7% | +1.7% | −1.0% | |||||||||
UQ Intl. | −¥19.4bln | +¥105.6bln | +¥86.2bln | RMB | +2.1% | +11.2% | +6.6% | |||||
GU | +¥0.3bln | +¥2.9bln | +¥3.3bln | |||||||||
EUR | +4.0% | +9.2% | +6.6% | |||||||||
Global Brands | −¥15.5bln | +¥14.1bln | −¥1.4bln | |||||||||
KRW | +0.8% | +9.5% | +5.0% | |||||||||
¥2.1329trln | ||||||||||||
Gross profit margin | SG&A ratio | |||||||||||
+6.2% | 48.6%→ 50.3% (+1.7p) | 40.1%→ 38.4% (−1.7p) |
1h | 2H | FY | |
Group | +2.2p | +1.0p | +1.7p |
UQ Japan | +2.9p | −0.7p | +1.4p |
UQ Intl. | +2.9p | +3.1p | +3.2p |
GU | ±0.0p | −1.8p | −0.9p |
1H | 2H | FY | |
Group | −1.3p | −3.1p | −1.7p |
UQ Japan | −1.4p | +1.3p | −0.4p |
UQ Intl. | −0.9p | −5.3p | −2.0p |
GU | −0.4p | ±0.0p | −0.2p |
¥1.0739trln | ¥818.4bln | 1. Impairment loss: ¥16.9bln | |||||||||||||||
(UNIQLO Intl.: ¥7.7bln, UNIQLO | |||||||||||||||||
+10.1% | +1.6% | ||||||||||||||||
Japan: ¥4.6bln Global Brands | |||||||||||||||||
¥3.1bln, etc.) | |||||||||||||||||
2. J Brand liquidation gain: ¥8.7bln | |||||||||||||||||
¥255.5bln | −¥6.5bln | ¥249.0bln | |||||||||||||||
+50.3% | +66.7% | ||||||||||||||||
SG&A | Other | ||||||||||||||||
income/expenses | |||||||||||||||||
FY2021 | FY2021 | FY2021 | FY2021 | ||||||||||||||
Revenue | Gross profit | Business profit | Operating profit 4 |
Group: FY2021 | Profit Attributable to |
Owners of the Parent | |
Value of foreign-currency denominated assets increased by ¥19.2bln September 1, 2020: 1USD = Approx. 105.4JPY
August 31, 2021: 1USD = Approx. 109.9JPY
¥265.8bln
¥249.0bln ¥16.8bln +73.9% ¥90.1bln +66.7%
Net finance
income
¥175.6bln | |||
+94.3% | ¥5.8bln | ||
Income taxes | |||
Non-controlling | |||
assets |
¥169.8bln +88.0%
FY2021 | FY2021 | FY2021 | FY2021 | ||||||||||||
Operating | Profit before | Profit for the | Profit | ||||||||||||
profit | Income tax | period | attributable to | ||||||||||||
owners of the | |||||||||||||||
parent | 5 |
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Fast Retailing Co. Ltd. published this content on 14 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 October 2021 06:11:04 UTC.