July 11, 2024

Fast Retailing Resultsfor September 2023 to May 2024
and Estimates for FY2024
Takeshi Okazaki
Fast Retailing Co., Ltd.
Group Senior Executive Officer & CFO
１

My name is Takeshi Okazaki and I am Group Senior Executive Officer and CFO at Fast Retailing.
Today, I would like to run through our consolidated business performance for the third quarter of
FY2024 and our estimates for the full business year through to the end of August 2024.

Contents
Ⅰ． FY2024 3Q Business Results
Ⅱ． Estimates for FY2024
Ⅲ． Reference Materials

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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 arecalculated 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 JapanGU:

All GU operations inside and outside Japan

Global Brands:

Theory, PLST, Comptoir des Cotonniers, Princesse tam.tam

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 businessresults depending on the economic environment, our response to market demand and price competition, and changes in exchange rates.
2

Group: FY2024 Third Quarter Results
Large revenue and profit gains. Achieved a record performance
・Revenue fell slightly short of our local-currency-based business forecasts, while operating profit exceeded
those estimates
Nine months to May 2024
(Sep. 2023 - May 2024)

unit : billion of yen

Revenue
Gross profit(to revenue)

SG&A(to revenue)

Business profit(to revenue)

Other income, expenses
Operating profit(to revenue)

Finance income, costs
Profit before income taxes(to revenue)

Profit attributable toowners of the parent(to revenue)

Three months to May 2024
(Mar. 2024 - May 2024)

ActualPrev. yry/yActualPrev. yry/y2,366.5
1,278.9

2,143.5
1,105.5+10.4%

767.5
433.7

676.1
364.0

+13.5%+15.7%

54.0%

51.6%

+2.4p

56.5%

53.8%

+2.7p

885.8

780.1

+13.5%

291.7

255.9

+14.0%+19.1%

37.4%

36.4%

+1.0p

38.0%

37.9%

+0.1p

393.1

325.4

+20.8%

141.9

108.1

+31.3%

16.6%

15.2%

+1.4p

18.5%

16.0%

+2.5p

8.7
401.8

5.1
330.5

+68.6%

2.2
110.3+26.3%+21.5%

2.7
144.7

17.0%

15.4%

+1.6p

18.9%

16.3%

+2.6p

75.9
477.7

28.6
359.2

+165.3%

18.3
128.7

+83.0%+33.0%

33.6
178.3

20.2%

16.8%

+3.4p

23.2%

19.0%

+4.2p

312.8

238.5

+31.2%

116.9

85.1

+37.4%

13.2%

11.1%

+2.1p

15.2%

12.6%

+2.6p

+31.2%+38.6%In the nine months through May 2024, the Fast Retailing Group reported a record performance thatwas generated by large year-on-year increases in revenue and profit. Revenue increased 10.4% year
on year to ¥2.3665 trillion and operating profit expanded by 21.5% to ¥401.8 billion. Profit attributableto owners of the parent also expanded by 31.2% year on year to ¥312.8 billion.

Revenue trended slightly below our consolidated business estimates on a local currency basis, while
operating profit exceeded expectations.

3

Group: FY2024 3Q Highlights (March-May 2024)
・Large 3Q revenue and profit gains: Revenue +13.5%, operating profit +31.2%
・Large revenue and profit gains from UNIQLO operations in N. America, Europe,
SE Asia, and Japan helped drive growth.
・Improved UNIQLO brand visibility in each market by opening a stream of storesthat embody LifeWear worldwide, which is starting to create a virtuous cycle ofstrengthening business performance.
・UNIQLO Greater China revenue declined and profit fell sharply (local currency terms).
Sales struggled in the face of external factors including a strong previous year,
lackluster consumer appetite, and unseasonal weather, as well as insufficient
product lineups to satisfy local customer needs.
Promote shift to local store management that goes beyond chain store
management in order to regain a strong growth trajectory.
・GU operation reported higher revenue and sharp profit gain on strong sales of
items that successfully captured mass fashion trends.
4

Next, let us look at some highlights from the third quarter performance from March to May 2024.
The Fast Retailing Group achieved large increases in revenue and profit in the third quarter, resulting
in a 13.5% increase in revenue and a 31.2% expansion in operating profit year on year. Within that
performance, UNIQLO operations in North America, Europe, Southeast Asia, and Japan generated
large revenue and profit gains, which helped drive Group growth. The improvement in UNIQLO brandvisibility in each market achieved through the opening of a string of stores that embody LifeWear
worldwide is starting to create a favorable cycle of strengthening business performance.

In the Greater China region, UNIQLO revenue declined and profit fell sharply in local currency terms.
This was due to fact that the quarter was being compared with a strong period in the previous year,
external factors such as, lackluster consumer appetite and unseasonal weather, and the fact thatsales struggled after the operation failed to put together sufficient product lineups that could satisfy
local customer needs. UNIQLO Greater China will promote a shift to local store management that
goes above and beyond chain store management in order to regain a strong growth trajectory.
Meanwhile the GU operation reported an increase in revenue and a large rise in profit in the third
quarter thanks to strong sales of products that successfully captured mass fashion trends.

Group: FY2024 1Q-3Q Operating Profit
Revenue¥2.1435trln → ¥2.3665trln
1Q-3Q
3Q
Group
+¥222.9bln+¥91.3bln
UQ Japan +¥12.3bln+¥22.3bln
UQ Intl. +¥195.2bln+¥66.5blnGU+¥18.4bln+¥4.4blnGB−¥2.6bln−¥1.8bln¥2.3665trln+10.4%

Gross profit margin
51.6％ → 54.0％
1Q-3Q
Group
+2.4p
UQ Japan+3.9p
UQ Intl.
+1.4p
GU
+1.9p

3Q
+2.7p
+4.1p
+2.1p
+1.4p

¥1.2789trln+15.7%

Average forex impact
1Q-3Q
Group
+4.1%
USD
+8.3%
RMB
+4.8%
EUR
+12.1%
KRW+8.2%
Gross profit margin
36.4％ → 37.4％
1Q-3Q
Group
+1.0p
UQ Japan+0.2p
UQ Intl.
+1.0p
GU
+0.7p

3Q
+5.8%
+13.6%+8.6%+12.9%+10.7%

3Q
+0.1p
−2.1p
+1.6p
+0.6p

We changed the practice followed throughFY2023 of reporting year-end bonuses as alump sum in August to monthly accounting
from FY2024. If we strip out this impact, the
SG&A ratio increased by 0.5p to 36.9%
Operating profit margin
15.4％ → 17.0％¥885.8bln+13.5%
Foreign exchange gain: ¥6.9bln¥393.1bln+20.8%SG&A
FY2024
1Q-3Q
Revenue

FY2024
1Q-3Q
Gross profit

Group
UQ Japan
UQ Intl.
GU¥8.7bln

1Q-3Q
+1.6p
+3.7p
+0.4p
+0.7p

3Q
+2.6p
+6.3p
−0.5p
+0.8p

¥401.8bln+21.5%

Other
income/expenses
FY2024
1Q-3Q
Business profit

FY2024
1Q-3Q
Operating profit

Let me now explain the key points on our consolidated balance sheet for the nine months through theend of May 2024. Consolidated revenue increased by ¥222.9 billion to ¥2.3665 trillion in the first ninemonths of FY2024, primarily on the back of the ¥195.2 billion increase in revenue at UNIQLOInternational.
The rise in the consolidated gross profit margin of 2.4 points to 54.0% in the first nine months of
FY2024 was due primarily to the improvement in the gross profit margin at UNIQLO Japan and otheroperations.
The SG&A to revenue ratio improved by 1.0 point to 37.4% for the first nine months as a result of thechange in timing of recording year-end bonuses and the rise in the SG&A ratio caused by declining
revenue from UNIQLO Greater China.
We changed our global practice followed through FY2023 of reporting year-end bonuses as a lumpsum in August to monthly accounting from FY2024. If we strip out this impact, the SG&A ratio
increased by a slim margin of 0.5 point to 36.9%
The net amount of other income/expenses stood at ¥8.7 billion for the first nine months. As a result,operating profit increased by a significant 21.5%, year on year to ¥401.8 billion, and the operating
profit margin improved by 1.6 points to 17.0%.

5Group: FY2024 1Q-3Q

Profit Attributable to
Owners of the Parent

Interest income and expenses: ¥40.4bln
Foreign exchange gain: ¥35.5bln*September 1, 2023: 1USD=146.2JPY, May 31, 2024: 1USD=156.8JPY¥75.9bln¥477.7bln＋33.0%¥145.8bln¥401.8bln＋21.5%Net financeincome¥331.9bln＋30.2%
Income taxes

FY2024
1Q-3Q
Operating profit

FY2024
1Q-3Q
Profit before
Income tax¥19.0bln¥312.8bln＋31.2%

Non−controlling
assets

FY2024
1Q-3Q
Profit for the period

FY2024
1Q-3Q
Profit attributable toowners of the parent
6

One of the components of operating profit is net finance income.

This measure stood at ¥75.9 billion in the nine months to May 2024, mainly comprising ¥40.4 billion in
net interest income and expenses and ¥35.5 billion in foreign exchange gains on foreign-currency
denominated assets.
As a result, profit before income taxes increased to ¥477.7 billion (+33.0%) and profit attributable toowners of the parent expanded to ¥312.8 billion (+31.2%).

1Q-3Q Breakdown by Group Operation
unit : billion of yen

Revenue

UNIQLOJapan

Business profit(to revenue)

Other income, expenses
Operating profit(to revenue)

Revenue
Business profit

UNIQLO(to revenue)
International Other income, expenses
Operating profit(to revenue)

Revenue
Business profitGU(to revenue)

Other income, expenses
Operating profit(to revenue)

Revenue

GlobalBrandsBusiness profit(to revenue)

Other income, expenses
Operating profit(to revenue)

Nine months to May 2024

Three months to May 2024

(Sep. 2023 - May 2024)(Mar. 2024 - May 2024)

ActualPrev. yry/yActual

722.0
126.7

709.7
99.0

+1.7%
+28.0%

236.9
50.3

214.5
32.1

+10.4%+56.7%

1.0
127.8

0.5
99.6

+84.7%+28.3%

0.2
50.5

0.0
32.2

+134.1%+56.9%

1,292.8
220.5

1,097.6
182.6+17.8%+20.8%

408.8
70.5

342.3
57.7

+19.4%+22.2%

1.3
221.9

1.4
184.1

-4.4%
+20.6%

0.4
71.0

3.6
61.4

-86.6%+15.6%

246.4
29.2

227.9
24.4

+8.1%
+19.7%

86.8
14.1

82.4
12.6

+5.4%
+11.4%

0.2
29.4

1.3
25.8

-85.2%+14.2%

0.0
14.1

0.0
12.7

-88.8%+10.9%

103.7
-0.4

106.4
1.3

-2.5%
-

34.3
1.2

36.2
1.7

-5.1%
-29.6%

0.0
1.4+56.4%
-

0.1
1.4

-0.4
1.3

+7.0%

17.6%

17.7%

17.1%

17.2%

11.9%

12.0%

0.1
-0.3

-

-

14.0%

14.0%

16.6%

16.8%

10.7%

11.3%

1.3%

1.4%

+3.6p

+3.7p

+0.5p

+0.4p

+1.2p

+0.7p

-

-

21.2%

21.3%

17.3%

17.4%

16.3%

16.3%

3.7%

4.1%

Prev. yr

15.0%

15.0%

16.9%

17.9%

15.4%

15.5%

4.9%

3.7%

y/y

+6.2p

+6.3p

+0.4p

-0.5p

+0.9p

+0.8p

-1.2p

+0.4p

Note: In addition to the above, the consolidated results also include Fast Retailing’s real estate leasing business as well as adjustment amounts that are not
attributable to any of the four reporting segments.

Slide 7 displays the breakdown of performance for the nine months to the end of May 2024 by Group
operation.

7

UNIQLO Japan: 3Q Overview
Large increases in revenue and profit that exceeded expectations
・Successful matching of actual demand and product launches resulted in strong sales of core Summer
ranges.
・Achieved sharp increase in profits on the back of improved gross profit margin and SG&A ratio.
unit : billion of yen

Revenue
Gross profit(to revenue)

SG&A(to revenue)

Business profit(to revenue)

Other income, expenses
Operating profit(to revenue)

Nine months to May 2024

Three months to May 2024

(Sep. 2023 - May 2024)(Mar. 2024 - May 2024)

ActualPrev. yry/yActualPrev. yr

y/y

722.0
368.2

709.7
334.3

+1.7%

236.9
129.2

214.5
108.1

+10.4%

51.0%

241.5
33.4%

126.7
17.6%

1.0
127.8

17.7%

47.1%

235.3
33.2%

99.0
14.0%

0.5
99.6

14.0%

+10.1%
+3.9p

+2.6%
+0.2p

+28.0%+3.6p+84.7%+28.3%
+3.7p

54.5%

78.8
33.3%

50.3
21.2%

0.2
50.5

21.3%

50.4%

76.0
35.4%

32.1
15.0%

0.0
32.2

15.0%

+19.5%
+4.1p

+3.8%
-2.1p

+56.7%+6.2p+134.1%+56.9%+6.3p
8

I would like to start by explaining UNIQLO Japan’s third-quarter performance from March to May 2024.
That segment reported large rises in both revenue and profits, with revenue expanding by 10.4% year
on year to ¥236.9 billion and operating profit rising by 56.9% to ¥50.5 billion.
This performance outstripped our expectations thanks partly to the successful matching of actual
demand and product launches, which resulted in strong sales of core Summer ranges. UNIQLO Japan
also generated a sharp increase in profits on the back of an improved gross profit margin and SG&A
ratio.

UNIQLO Japan: 3Q Revenue
Same-store sales +9.0% y/y・Large increases in revenue in April and May on 1) strong sales of T-shirts, Bra
Tops, and bottoms made of ultra stretch material that were featured in our
advertising campaigns during persistently warm weather and 2) vibrant Golden
Week and 40th UNIQLO Thank You Festival sales.
・Buoyant duty-free sales also boosted overall revenue. The ratio of duty-freesales to total sales doubled. Growing UNIQLO brand visibility in global markets
is also helping to boost UNIQLO Japan performance.
・e-commerce sales: ¥34.5bln (+12.1% y/y, 14.6% of total sales)
・June same-store sales: +14.9% y/y. 1) Strong sales of Summer products on
perfect alignment of seasonal temperature patterns and promotional sales, 2)Strong sales of new products that successfully captured the latest fashion
trends.
Same-store sales
y/y

1H

Mar.

Apr.

May.

3Q

1Q-3Q

Jun.

-3.4%

-1.5%

＋18.9%

＋8.4%

＋9.0%

＋0.3%

＋14.9%

Customer visits

-5.0%

-7.7%

＋6.8%

＋0.2%

＋0.2%

-3.4%

＋8.1%

Customer spend

＋1.8%

＋6.7%

＋11.3%

＋8.2%

＋8.9%

＋3.9%

＋6.3%

Net sales

ああああ

Yr to Aug.2024

UNIQLO SHINSAIBASHI
Opened November 2023. Featuring an
Osaka-style store interior and creating a new
type of store that local customers, travelers,
９and foreign nationals can all enjoy.

UNIQLO Japan’s third-quarter same-stores sales rose by 9.0% year on year.
The segment generated large year-on-year increases in revenue in April and May on the back ofstrong sales of T-shirts, Bra Tops, and bottoms made from ultra stretch material that were featured in
our advertising campaigns during persistently warm weather, as well as vibrant Golden Week and40th UNIQLO Thank You Festival sales.
Duty-free sales also proved strong, providing another boost to overall revenue. Indeed, the ratio of
duty-free sales to total sales doubled in the third quarter, suggesting that growing recognition of the
UNIQLO brand visibility in global markets is also helping to boost UNIQLO Japan performance.

UNIQLO Japan: 3Q Gross Profit Margin, SG&A Ratio
Gross profit margin: 54.5％ (+4.1p y/y)・Both the discounting rate and cost of sales improved.
・Discounting rate: Improved on less discount sales to offload excess inventory.
・Cost of sales: Improved on a lower impact from spot exchange rates used for additional production orders
compared with the previous year.
However, we expect spot rates to have a larger impact in 4Q as we are ordering additional
production of strong-selling items given the extremely strong sales environment.
Cost of sales expected to come in roughly flat y/y in 2H overall.

SG&A ratio: 33.3％ (−2.1p y/y)・Personnel, store rents, and advertising and promotion ratios declined on the back of strong sales.
・Personnel expenses still contracted on a monetary basis after excluding the impact of changes in the timingof recording year-end bonuses.
This was due to more appropriate inventory levels, the digitalization of store operations, and the achievementof greater efficiencies. Sales per employee also increased and productivity improved.
10

The UNIQLO Japan gross profit margin expanded by 4.1 points to 54.5% in the third quarter fromMarch to May 2024. This was due primarily to improvements in both the discounting rate and cost of
sales.
The discounting rate improved when fewer discount sales were required to offload excess inventory.
Cost of sales improved on the back of a reduction in the impact from spot exchange rates used for
additional production orders compared with the previous year. However, we expect spot rates will
exert a larger impact on performance in the fourth quarter given the fact that we have been ordering
additional production of strong-selling items in the wake of extremely strong sales. Cost of sales is
expected to come in roughly flat compared with the previous year in the second half of FY2024.

Meanwhile, UNIQLO Japan’s third-quarter SG&A ratio decreased by 2.1 points year on year to 33.3%.
Personnel, store rents, and advertising and promotion ratios in particular declined on the back ofstrong sales.
Personnel expenses also contracted on a monetary basis even after excluding the impact of changes
in the timing for recording year-end bonuses. This was due to more appropriate inventory levels, thedigitalization of store operations, and the achievement of greater efficiencies. Sales per employee also
increased and productivity improved.

UNIQLO International: 3Q Overview
Large revenue and profit gains. Operating profit exceeds expectations
・The especially strong performances and significant increases in revenue and profit in the North America,
Europe, and Southeast Asia, India & Australia regions boosted overall performance.
・Compared with our forecasts, overall revenue came in lower than expected due to a shortfall in Greater
China performance. Operating profit exceeded expectations on higher-than-expected performances in North
America and Europe and improved gross profit margins in all regions.
unit : billion of yen

Revenue
Gross profit(to revenue)

SG&A(to revenue)

Business profit(to revenue)

Other income, expenses
Operating profit(to revenue)

Nine months to May 2024

Three months to May 2024

(Sep. 2023 - May 2024)(Mar. 2024 - May 2024)

ActualPrev. yry/yActualPrev. yry/y1,292.8
724.3

1,097.6+17.8%+20.9%

408.8
237.5

342.3
191.7

+19.4%

599.2

56.0%

503.7
39.0%

220.5
17.1%

1.3
221.9

17.2%

54.6%

416.6
38.0%

182.6
16.6%

1.4
184.1

16.8%

+1.4p

+20.9%+1.0p+20.8%+0.5p-4.4%+20.6%
+0.4p

58.1%

166.9
40.8%

70.5
17.3%

0.4
71.0

17.4%

56.0%

134.0
39.2%

57.7
16.9%

3.6
61.4

17.9%

+23.8%+2.1p+24.6%+1.6p+22.2%+0.4p-86.6%+15.6%-0.5p

11

Let me now move on to talk about UNIQLO International performance in the third quarter of FY2024.
UNIQLO International reported large increases in both revenue and profit in the three months fromMarch to May 2024. Revenue increased by 19.4% to ¥408.8 billion and operating profit expanded by
15.6% to ¥71.0 billion. Especially strong performances and significant increases in revenue and profit
in the North America, Europe, and Southeast Asia, India & Australia regions proved the key drivers ofoverall Group growth.
When viewed against our company forecasts, overall revenue came in lower than expected due to ashortfall in performance in the Greater China region. By contrast, operating profit exceeded
expectations thanks to higher-than-expected performances in North America and Europe andimproved gross profit margins in all regions.
I will break down UNIQLO International performance into geographical locations in the next few slides.
To help stakeholders gain an accurate understanding of actual situations in each market, all regional
performance results are listed in local currency terms.

UNIQLO International: 3Q by Region (1)Localcurrency
terms

Greater China region: Revenue down, large contraction in profits
Mainland China market: Revenue down, large profit fall (revenue up, large profit fall in yen terms)
・Compared with an especially strong previous year. External factors: Lackluster consumer appetite,
unseasonal weather, etc. Internal factors: Insufficient product mixes that match consumer needs,
insufficient conveyance of pertinent information, and insufficient marketing.
Hong Kong market: Revenue down, large profit fall・Revenue declined due to the impact of unseasonal weather.

Taiwan market: Significant revenue and profit gains
・Sales proved strong. Operation was able to capture customer needs as the temperature rose by starting to
introduce Summer ranges early in the season to enhance sales performance.

12

Our UNIQLO operations in the Greater China region reported a decline in revenue and a large fall in
operating profit in the third quarter compared with the previous year.
In the Mainland China market, revenue declined and profit contracted sharply. Sales struggled in theface of various factors. First, the quarter was being compared with an especially strong period in theprevious year. Some external factors also came into play, such as lackluster consumer appetite andunseasonal weather. Meanwhile, internal factors such as the failure to compile sufficient productmixes that matched consumer needs, insufficient conveyance of pertinent information, and insufficient
marketing also weighed on sales.

It was a similar picture in the Hong Kong market, with revenue decreasing on the back of unseasonal
weather and other factors.
Meanwhile, the Taiwan market reported significant third-quarter revenue and profit gains. The
operation generated strong sales after successfully capturing customer needs as the weather grewhotter by introducing Summer ranges early in the season and enhancing sales performance.
In a short while, you will hear from our UNIQLO Greater China CEO Pan Ning about some of thebusiness reforms we are planning to instigate in that region to generate future growth.

UNIQLO International: 3Q by Region (2)Localcurrency
termsSouth Korea: Both revenue and profit increased
・Revenue increased on strong sales of UT, parachute pants, Bra Tops, and other ranges as the weather grew hotter.
・The gross profit margin increased on improved discounting, boosting the operating profit margin.

SE Asia, India & Australia: Revenue up, large profit gain・Gross profit margin improved as the discounting rate improved and the impact of safeguards in Indonesia
dissipated. The operating profit margin increased as a result.
・The whole region performed well. Thailand, Indonesia, Vietnam, and India reported large revenue and profit gains,while Malaysia and the Philippines reported higher revenue and significant profit gains, and Australia reported
higher revenue and profit. The operation enhanced the information conveyed on Summer ranges during UNIQLO
Thank You Festival sales and other promotion periods, resulting in strong sales of Bra Tops, UV-cut, T-shirts, andother core products.
・Singapore revenue declined, and profit contracted sharply. Sales struggled in the face of a decline in consumer
appetite for clothing and insufficient information sharing. Profits declined considerably on the back of an increasein the SG&A ratio.

13

The Southeast Asia, India & Australia region reported a rise in revenue and a large increase inoperating profit in the third quarter. The region’s gross profit margin improved as the discounting rate
improved and the impact of safeguards in Indonesia dissipated. The operating profit margin increased
as a result.
Looking at individual markets within that region, Thailand, Indonesia, Vietnam, and India reported
large revenue and profit gains, while Malaysia and the Philippines reported higher revenue andsignificant profit gains, and Australia reported higher revenue and profit. The segment improved thetype of information being conveyed on Summer ranges during UNIQLO Thank You Festival sales andother promotion periods. That move resulted in strong sales of Bra Tops, UV-cut, T-shirts, and othercore products.
Meanwhile, Singapore revenue declined, and profit contracted sharply as sales proved sluggish in theface of declining consumer appetite for clothing and an insufficient release of pertinent productinformation. Profits declined considerably on the back of an increase in the SG&A ratio.

UNIQLO International: 3Q by Region (3)Localcurrency
terms

North America: Large revenue and profit gains
・Operating profit margin increased significantly on improved gross profit margin and SG&A ratio.
USA: Large revenue and profit gains
・Large rise in same-store sales as we strengthened marketing and conveyance of information on products
earmarked for stronger strategic sales.

・Strong sales of Bra Tops, linen items and Sports Utility Wear.
・Large accompanying increase in EC sales as the operation used our app to consistently convey tailoredinformation to each customer.
Canada: Large revenue and profit gains
・Same-store sales rose significantly as we strategically strengthened sales of T-shirts, BraTops, and other products
and strengthened the conveyance of information to coincide with new store openings, other events.

Europe: Large revenue and profit gains
・Operating profit margin rose sharply following improvements in both the gross profit margin and SG&A ratio.
・Large revenue rise on higher-than-expected sales at new stores and double-digit growth in same-store sales.
・Opened five new stores in Edinburgh, Rome, London, Milan, and Nice in 3Q. The eagerly awaited first ever UNIQLO
stores in Edinburgh and Rome were especially crowded, and we got a real sense of the growing UNIQLO brandrecognition and fan base across Europe
・Linen and Bra Tops hit products. Year-round staples such as knitwear, BLOCKTECH, and down sold well.

14

In the North America region, both our operations in the United States and in Canada reported large
increases in revenue and profit in the third quarter, and both operations’ operating profit margins
increased significantly on the back of improvements in the gross profit margin and SG&A ratio.
UNIQLO USA reported large year-on-year increases in the third quarter. Same-store sales rose
sharply after we strengthened marketing and communicated information on products earmarked forstronger strategic sales more effectively. Bra Tops and linen items and Sports Utility Wear all soldparticularly well.
In addition, EC sales increased considerably year on year as the operation consistently conveyed
tailored information to each customer via our online app.
UNIQLO Europe generated sharp rises in third-quarter revenue and profit.
The region’s operating profit margin rose sharply following improvements in both the gross profit
margin and SG&A ratio. Revenue increased considerably on the back of higher-than-expected sales
at new stores and double-digit growth in same-store sales.

Five new UNIQLO stores were opened in the third quarter in Edinburgh, Rome, London, Milan, andNice. The eagerly awaited first ever UNIQLO stores in Edinburgh and Rome were especially crowded,
and we got a real sense of how visibility of the UNIQLO brand was growing and how the label’s fanbases were expanding all over Europe.
On the product front, linen and Bra Tops turned into hit products and such year-round staple items as
knitwear, BLOCKTECH, and down all sold well.

New Stores Worldwide for Experiencing LifeWear (1)Greater China

SE Asia, India & Australia
India: UNIQLO Phoenix
Marketcity Kurla Mumbai
Opened October 2023
The first UNIQLO store in Mumbai, India’s
financial and commercial hub, was opened in
one of the largest shopping malls. The store
has enjoyed great success since opening day
and is proof of growing UNIQLO brandvisibility in India.

Mainland China:
UNIQLO Wuhan Chuhe Hanjie Street
Opened May 2024
Marks the opening of our first city flagship store inCentral China in a commercial area that is also acultural hub. Over 30,000 customers visited on
opening day and the store proved a huge success.

Malaysia: The Exchange TRX

Vietnam: UNIQLO Hoan Kiem

Opened January 2024

Opened November 2023

15

UNIQLO has been opening a constant stream of new stores that represent LifeWear around the world,
so I would like to introduce a few representative stores to you here today.
The UNIQLO Wuhan Chuhe Hanjie Street store enjoyed an extremely vibrant opening in May, withover 30,000 customers visiting the store on the first day.
In India, the first UNIQLO store to be opened in Mumbai was housed in one of the market’s
largestshopping malls. The store has enjoyed great success since opening day and is proof of growing
UNIQLO brand visibility in India.
The opening of other new stores in symbolic locations in each market, including Malaysia and Vietnam,
is attracting many local customers and tourists alike.

New Stores Worldwide for Experiencing LifeWear (2)EuropeMilan, Italy: UNIQLO Gae Aulenti
Opened May 2024
A unique approx. 800m2 new store located in a former
parking lot under Piazza Gae Aulenti that is attracting
attention as a new Milan landmark. Local media said
the futuristic and unconventional architecturalexperiment enhances the area’s value withoutcompromising its modern aesthetic.

Edinburgh, Scotland: UNIQLO Princes Street
Opened April 2024
The first UNIQLO store in
Scotland. Customers starting
queueing from 4 a.m. to await
the opening of the new store
that looks onto Princes Street in
the heart of Edinburgh, which isrenowned for its beautiful
streetscapes. The opening wascovered by the BBC and manyother media outlets.
◀Opening day at the new store

Rome, Italy: UNIQLO Rome Via del Corso
Opened April 2024
Located on Via del Corso, one of Rome’s busiest streets, the store ishoused in an Art Nouveau commercial complex built in 1922. Local
customers said that the city’s traditions, beautiful buildings, andUNIQLO elegance complemented each other very well.

16

In Italy, we opened distinctive stores in Rome and Milan. Both stores earned high praise among local
customers for the way in which they complemented the area’s beautiful cityscapes and historicbuildings. Sales have proved extremely strong at both stores since their opening.
In the United Kingdom, we opened our first store in Scotland in the city of Edinburgh. Customers
started queuing from 4 a.m. to await the opening of the new store, which was covered by the BBC andmany other media outlets and became quite a story.

New Stores Worldwide for Experiencing LifeWear (3)North America

EuropeBoston, USA: UNIQLO South Shore Plaza
Nice, France: UNIQLO Nice Iconic Opened April 2024

Opened April 2024

Luxembourg:
UNIQLO Grand-Rue
Opened October 2023 ▶
First store in Luxembourg.
Expanding the company’spresence in Belgium, theNetherlands, and acrossthe Benelux region.

Paris, France: UNIQLO Opera store
Newly refurbished store opened in September 2023

◀Top-selling global flagship.
Expanded the sales floor but
maintained the historic 19th century
exterior. This landmark where
Parisian and Japanese cultures andlifestyles meet is the perfect place forcommunicating LifeWear tocustomers worldwide.

Toronto, Canada: UNIQLO ScarboroughTown Centre Opened April 2024
Opened a total of 14 stores in North America in thefirst nine months of FY2024 primarily in shopping
malls. Customers lined up ahead of the opening.

17

In France, we reopened the newly refurbished UNIQLO Paris Opera store. That, coupled with the
opening of our second store in Nice, further enhanced UNIQLO’s presence in the market.
We also opened our first store in Luxembourg in October 2023.
In North America, we opened a total of 14 stores in the first nine months of FY2024, primarily in
shopping malls. Going forward, we don’t plan to restrict store openings to shopping malls, but will also
proactively open new global flagship-class stores.
The opening of new stores in every region that help convey UNIQLO values is helping to increase
UNIQLO brand recognition on a global scale.

GU: 3Q Overview
Revenue up, large profit gain. Slightly below forecast
・Strong sales of products that captured global mass fashion trends, such as Sweat Look T-shirt, Cocoon
Jogger Pull-on Pants, Light Denim Wide Pants. Starting to see nascent opportunities for global expansion.
・However, GU was not able to prepare sufficient stock of products that could have been sold in greater
volumes, so sales weren’t expanded as far as they might have been. This is an issue to address.
・Maximize future sales by enhancing global development of highly finished mass-trend items, strategically
preparing sufficient inventory and earnestly advertising these products from the beginning of the season.
・EC sales increased to constitute roughly 12% of total sales.
unit : billion of yen

Nine months to May 2024

Three months to May 2024

(Sep. 2023 - May 2024)

Revenue
Gross profit(to revenue)

SG&A(to revenue)

Business profit(to revenue)

Other income, expenses
Operating profit(to revenue)(Mar. 2024 - May 2024)

ActualPrev. yry/yActualPrev. yr

y/y

246.4
122.2

227.9
108.7

+8.1%

86.8
44.7

82.4
41.2

+5.4%

+12.4%

49.6%

92.9
37.7%

29.2
11.9%

0.2
29.4

12.0%

47.7%

84.2

+1.9p

+10.3%

37.0%

24.4

+0.7p

+19.7%

10.7%

1.3
25.8

+1.2p

-85.2%+14.2%

11.3%

+0.7p

51.5%

30.6
35.3%

14.1
16.3%

0.0
14.1

16.3%

50.1%

28.5
34.7%

12.6
15.4%

0.0
12.7

15.5%

+8.5%
+1.4p

+7.2%
+0.6p

+11.4%+0.9p-88.8%+10.9%+0.8p

18

Let me now move onto our GU casual wear operation.
The GU operation generated an increase in revenue and a large rise in profit in the third quarter, withrevenue rising 5.4% year on year to ¥86.8 billion and operating profit expanding by 10.9% to ¥14.1
billion. These results were slightly lower than anticipated.
Products that captured global mass fashion trends, such as Sweat Look T-shirt, Cocoon Jogger Pullon Pants, Light Denim Wide Pants all sold well, and we started to see the emergence of nascent
opportunities for global expansion.

However, GU wasn’t able to prepare sufficient stock of products that could have been sold in greater
volumes, so sales weren’t expanded as far as they might have been, which is an issue to address.
Going forward, the operation will be looking to maximize sales by enhancing global development ofhighly finished mass-trend items, strategically preparing sufficient inventory, and earnestly advertisingthese products from the beginning of the season.

Global Brands: 3Q Overview
Revenue down, business profit falls sharply. Below plan
・Revenue dipped and profit fell sharply as PLST stores numbers were halved, and Theory and Comptoir des Cotonniers sales struggled.
・Operating profit increased compared with the FY2023 recording of impairment losses on store closures at PLST and Comptoir desCotonniers.
Theory: Revenue dipped slightly, and profit fell sharply. Revenue declined primarily at Theory USA as the product mix was skewed towardjackets and pants, failed to offer sufficient casual wear items to suit changing customer lifestyles, and lacked fresh vitality. Insufficient control
over personnel costs and other expenses resulted in a sharp fall in operating profit. Going forward, we will seek to further reduce businesscosts, reflect increasingly casual customer needs in the product mix, and start transforming product planning and marketing.
PLST: Revenue down, profit up. Revenue declined after store numbers were halved. However, same-store sales rose on the back of strong
sales primarily at urban stores operating under new business models. Operating profit increased after restricted discounting improved thegross profit margin and business costs improved on the back of business restructuring efforts.
Comptoir des Cotonniers: Revenue declined but operating losses also contracted. Revenue fell as store numbers were reduced. Same-store
sales also declined as we struggled to convey the label’s new brand concept and attract customers. Operating loss contracted as businessrestructuring measures helped create better cost structures.
Nine months to May 2024
(Sep. 2023 - May 2024)

unit : billion of yen

Revenue

GlobalBrandsBusiness profit(to revenue)

Other income, expenses
Operating profit(to revenue)

ActualPrev. yr

y/y

103.7
-0.4

106.4
1.3

-2.5%
-

0.0
1.4

+56.4%
-

0.1
-0.3

-

-

1.3%

1.4%

Three months to May 2024
(Mar. 2024 - May 2024)
Actual--Prev. yr

y/y

34.3
1.2

36.2
1.7

-5.1%
-29.6%

0.1
1.4

-0.4
1.3

+7.0%

3.7%

4.1%

4.9%

3.7%

-1.2p

+0.4p

19

The final segment I would like to cover with regard to third-quarter performance is the Global Brands
segment.
Global Brands fell short of expectations by reporting a decline in revenue and a large decline in profit,with revenue contracting 5.1% to ¥34.3 billion and business profit declining by 29.6% to ¥1.2 billion.
This was due to a halving of the number of PLST stores and sluggish sales from our Theory andComptoir des Cotonniers.
Meanwhile, operating profit increased by 7.0% to ¥1.4 billion. However, this performance was being
compared with the previous year when impairment losses were recorded on store closures at PLST
and Comptoir des Cotonniers.
The Theory label reported a slight contraction in revenue and a sharp fall in profits.
Revenue declined primarily at Theory USA as the product mix was skewed toward jackets and pants,
failed to offer sufficient casual wear items to suit changing customer lifestyles, and lacked fresh vitality.
On the profit front, the segment’s inability to sufficiently control personnel costs and other expenses
resulted in a sharp fall in operating profit. Going forward, Theory will seek to further reduce businesscosts. We are also starting to transform our product planning and marketing to firmly reflect growing
customer needs for casual clothing in the product mix.

Group: Balance Sheet (end May 2024)

unit : billions of yen

End May. 2023 End Aug. 2023 End May. 2024

ChangeTotal Assets

3,100.6

3,303.6

3,684.1+583.5Current Assets

2,012.1

2,176.6

2,372.9+360.7

Non-Current
Assets

1,088.4

1,126.9

1,311.2+222.7

Total Liabilities

1,353.0

1,430.3

1,488.5+135.4

Total Equity

1,747.5

1,873.3

2,195.5+448.0

Qが過ぎたものは、

20

Now, I would like to take you through our balance sheet as it stood at the end of May 2024.

Compared with the end of May 2023, total assets increased by ¥583.5 billion to ¥3.6841 trillion. Total
liabilities increased by ¥135.4 billion to ¥1.4885 trillion, and total equity increased by ¥448.0 billion to¥2.1955 trillion.
The next slide contains more details regarding the main changes in assets and liabilities.

Group: B/S Main Points v. end May 2023
Total equity: +¥583.5bln (¥3.1006trln→ ¥3.6841trln)
・Cash and cash equivalents: +¥175.1bln (¥922.5bln⇒¥1.0977trln)
Rose primarily on the back of increased operating cash flow at UNIQLO operations
・Other financial assets (short & long term): +¥155.8bln (¥731.4bln⇒¥887.2bln)
・Inventory assets: +¥17.4bln (¥387.3bln⇒¥404.7bln)
Rose primarily on the back of increased inventory at UNIQLO International✔ UNIQLO Intl: +¥21.6bln. Inventory assets increased in North America, Europe, and the Southeast Asia, India &Australia regions as operations expanded. Inventory assets in the Greater China region remained steady near theprevious year’s levels, but inventory in the Mainland China market declined as the operation systematically controlled
orders to reflect the latest sales trends.
✔ UNIQLO Japan:−¥4.4bln. Decreased on the back of strong sales✔ GU: +¥3.0bln. Increased in line with sales growth.
✔ Global Brands: −¥2.5bln.
・Derivative financial assets (short & long term): +¥111.8bln (¥200.0bln⇒¥311.8bln)
Due to a widening in the differential between the average yen rate on our forward contract holdings and the end-May
yen spot rate. This is a means of exchange rate hedging on future product imports, so does not impact actual
corporate results.
21

Let me explain the factors underlying the ¥583.5 billion increase in total assets.
Cash and cash equivalents increased by ¥175.1 billion to ¥1.0977 trillion primarily due to increased
operating cash flow at UNIQLO operations. Meanwhile, other financial assets increased by ¥155.8
billion to ¥887.2 billion.
Total inventories rose by ¥17.4 billion to ¥404.7 billion.
This rise can be attributed to an increase in UNIQLO International inventory of ¥21.6 billion.
Inventory assets increased in the North America, Europe, and the Southeast Asia, India & Australia
regions as operations expanded. Inventory assets in the Greater China region remained steady near
the previous year’s level, but inventory in the Mainland China market declined as the operation
systematically controlled orders to reflect the latest sales trends.
UNIQLO Japan inventories declined by ¥4.4 billion on the back of strong sales.
Finally, derivative financial assets increased by ¥111.8 billion to ¥311.8 billion. This was due to awidening in the differential between the average yen rate on our forward contract holdings and theend-May yen spot rate. However, this is a means of exchange rate hedging on future product imports,
so does not impact actual corporate results.

Group: 1Q-3Q Cash Flow
・ Profit before income taxes: +¥477.7bln+¥454.3bln

・Repayment of lease liabilities: −¥108.7bln
・Payment of dividends: −¥104.2bln−¥85.4bln+¥194.4bln YTD−¥229.5bln
Cash used ininvesting activities¥903.2bln
Cash flow fromoperating activities

Opening balanceof cash andcash equivalents

September 1, 2023+¥55.1bln
Cash used infinancing
activities

・Acquisition of property, plant and equipment: −¥53.0bln
・Acquisition of intangible long-term assets: −¥23.4bln¥1.0977trln

Effect ofexchange ratechanges oncash and cash
equivalents
Closing balanceof cash and cash
equivalents

Capital expenditure ¥82.2bln
・UNIQLO Japan: ¥10.6bln (new stores, etc.)
・UNIQLO Intl:¥37.7bln (new stores, etc.)
・GU:¥5.5bln (new stores, etc.)
・Global Brands:¥1.3bln (new stores, etc.)
・Systems, etc.:¥27.0bln (IT systems, etc.)
May 31, 2024

Applying IFRS 16 increased cash flow from operating activities by approx. ¥90.0bln and decreased cash used in financing activities
by the same amount. This change had no impact on final cash flow figure.

22

Looking next at our cash flow position for the first nine months of FY2024, cash flow from operating
activities totaled ¥454.3 billion, cash used in investing activities totaled ¥85.4 billion, and cash used infinancing activities totaled ¥229.5 billion.
As a result, the closing balance of cash and cash equivalents had risen by ¥194.4 billion at the end of
May 2024 to ¥1.0977 trillion.

Group: FY2024 Estimates
Revised up. Expect a fresh record performance
・Revised up our estimates for consolidated revenue by ¥40.0bln, business profit by ¥15.0bln, and operating
profit by ¥25.0bln to reflect corporate performance through June and following a decision to bring theassumed foreign exchange rates used to calculate the fourth-quarter estimates in line with actual rates.

・Expect to record ¥90.0bln in finance income net of costs based on net interest income and foreign exchange
gains. An estimated ¥35.5bln in foreign exchange gains is included in this measure using the end-May
exchange rate of 1USD=156.8JPY as the assumed year-end exchange rate.
unit : billion of yen

Yr to Aug.2023

Revenue
Business profit（to revenue）

Other income, expenses
Operating profit（to revenue）

Finance income, costs
Profit before income taxes

Yr to Aug.2024

Yr to Aug.2024

ActualEstimates(as of Apr.11)

2,766.5381.9

3,030.0
450.0

+9.5%
+17.8%

Estimates(as of Jul.11)y/y

Yr to Aug.2024
3Ｑ Actualy/y3,070.0
465.0+11.0%+21.7%

2,366.5
393.1

+1.3p

16.6%

13.8%

14.9%

+1.1p

15.1%

-0.9
381.0

0.0
450.0

+18.1%

10.0
475.0+24.6%

8.7
401.8

13.8%

14.9%

+1.1p

15.5%

+1.7p

17.0%

56.8
437.9

50.0
500.0

-12.0%

90.0
565.0＋58.4%+14.2%

75.9
477.7

-

+29.0%（to revenue）

15.8%

16.5%

+0.7p

18.4%

+2.6p

20.2%

Profit attributable to owners of
the parent

296.2

320.0

+8.0%

365.0

+23.2%

312.8（to revenue）

10.7%

10.6%

-0.1p

11.9%

+1.2p

13.2%

*1
*2

Up approx. 7% if
exclude forex impact*1

Up approx. 20% if
exclude forex impact*1

Up approx. 17% if
exclude forex impact*2

FY2024 performance estimates calculated using FY2023 consolidated results foreign exchange rates (1USD=138.6JPY, 1RMB=19.7JPY. See p30).
FY2024 forecast for profit attributable to owners of the parent is calculated assuming a FY2023 total of ¥25.3bln under foreign exchange gains (losses) within the financeincome and costs measure.

23

I would now like to explain our business forecasts for the full year to August 31, 2024.
We are predicting full-year consolidated revenue of ¥3.0700 trillion (+11.0%), business profit of¥465.0 (+21.7%), and operating profit of ¥475.0 billion (+24.6%).
We revised up our April estimates for FY2024 consolidated revenue by ¥40.0 billion, business profit
by ¥15.0 billion, and operating profit by ¥25.0 billion to reflect corporate performance through Juneand following a decision to bring the assumed foreign exchange rates used to calculate the fourthquarter estimates in line with actual rates.

Elsewhere, we anticipate recording a figure of ¥10.0 billion under other income and expenses
primarily due to foreign exchange gains.
Under finance income net of costs, we expect to record ¥90.0 billion resulting from interest income,foreign exchange gains, and other factors. The measure would include an estimated ¥35.5bln inforeign exchange gains calculated using the end-May exchange rate of 1USD=156.8JPY as theassumed year-end exchange rate.
As a result of the above, we are predicting a 23.2% increase in profit attributable to owners of theparent in FY2024 to ¥365.0 billion. Both the revenue and profit measures are expected to reach newrecord high levels.

FY2024 Estimates by Group Operation (1)UNIQLO Intl: Expect significant increases in full-year revenue and profit
・Forecast large 2H and FY2024 revenue and profit gains for the UNIQLO International segment as a whole, anda similar trend in local currency terms.
・Greater China region: Expected to report a decline in revenue and a sharp drop in profit in 2H, and anincrease in revenue and a slight decline in profit in FY2024.
Aiming to put the operation back on a growth track from FY2025 by pursuing operational reforms✓ Mainland China market and Hong Kong market: 2H revenue decline, large profit decline, FY2024 revenue
expected to increase but profit set to decline✓ Taiwan market: Expect a rise in revenue and a large rise in profit in 2H profit and increases in revenue
and profit in FY2024.
・South Korea: Expected to generate higher revenue and profit in both 2H and FY2024.
・Southeast Asia, India & Australia, North America and Europe: Strong performance continuing in 4Q. Expect
large 2H and FY2024 revenue and profit gains, and year-on-year improvements in operating profit margins.

24

I would now like to explain our FY2024 business estimates by Group operation.
Looking first at UNIQLO International, we expect that segment will generate large revenue and profit
gains in the second half and FY2024, and that a similar trend will be achieved when performance isviewed in local currency terms.
All the following region-specific forecasts for UNIQLO International are explained in local currency
terms.
The Greater China region is expected to report a decline in revenue and a sharp drop in profit in thesecond half of FY2024. As a result, full-year revenue is expected to rise and full-year profit isexpected to contract slightly. You will be hearing shortly from UNIQLO Greater China CEO Pan Ning
about how we are aiming to pursue operational reforms in order to set the regional operation back on
a growth track from FY2025.
Meanwhile, UNIQLO South Korea is predicted to generate higher revenue and profit in both thesecond half and full business year.
The Southeast Asia, India & Australia, North America and Europe regions are expected to continue
to generate strong performances in the fourth quarter, and we are predicting large second-half andfull-year revenue and profit gains, and year-on-year improvements in operating profit margins.

FY2024 Estimates by Group Operation (2)UNIQLO Japan:
Expect higher
revenue and large profit gain in FY2024
国内ユニクロ事業：
通期は増収、大幅な増益の予想
・ Predict higher revenue and a large rise in profit in 2H and FY2024.
・ Full-year operating profit margin is set to improve thanks to a higher gross profit margin and flat SG&A ratio.
・ 4Q revenue expected to rise on continued strong sales. However operating profit is expected to decline
slightly as the impact of spot exchange rates arising from additional production orders of strong-sellingitems will likely lead to a deterioration in cost of sales and a decline in the 4Q gross profit margin.

GU: Forecast a rise in revenue and a large profit gain in FY2024
・ Expect revenue and profit gains in 2H, and higher revenue and large profit gains in FY2024.
・ Predict a slight decline in 2H operating profit margin as the impact of spot exchange rates emerges in 4Q
and we scale up discounting of some products to offload excess stock.
・ FY2024 gross profit margin expected to improve.

25

Moving on to our outlook for UNIQLO Japan, we expect that segment will report higher revenue anda large increase in profit in the second half of FY2024 and the full business year. UNIQLO Japan’s
full-year operating profit margin is set to improve on the back of a higher gross profit margin and flat
SG&A ratio.
Fourth-quarter revenue is predicted to rise on the back of continued strong sales. However fourthquarter operating profit is expected to decline slightly as the impact of spot exchange rates arisingfrom additional production orders of strong-selling items will likely lead to a deterioration in cost of
sales and a decline in the fourth-quarter gross profit margin.
Moving onto our forecasts for GU, we expect that segment to report higher revenue and profits insecond half, and higher revenue and large profit gains in FY2024. We predict a slight decline insecond-half operating profit margin due to a more marked impact of spot exchange rates in the
fourth quarter and escalated discounting on some products to offload excess stock. Having said that,
the GU growth profit margin is expected to improve for FY2024 as a whole.

FY2024 Estimates by Group Operation (3)Global Brands: Seen generating steady revenue and an operating profit
・ 2H, FY2024 revenue expected to hold steady y/y. Segment expected to turn the previous year’s operating
loss into an operating profit in both 2H and FY2024.
・ Theory: Expect an increase in full-year revenue but a large decline in profit on a higher SG&A ratio.

・ PLST: Predict FY2024 revenue to decline sharply on fewer store numbers. However, the label is forecast to
turn the operating loss recorded in FY2023 into an operating profit in FY2024.
・ Comptoir des Cotonniers: FY2024 revenue expected to decline, while operating losses contract slightly.
■ Envisaged Future Business Profit Trend by Business Segment

UNIQLO International

2021

2022

2023 2024 E

UNIQLO Japan

2021

2022

2023 2024 E

GU

2021

2022

2023 2024 E

Global Brands

2021

2022

2023 2024 E

26

Our Global Brands segment is expected to report steady revenue and to move into the black in boththe second half of FY2024 and the full business year.

FY2024 Dividend Estimates
Scheduled year-end dividend: ¥225, Expected annual dividend: ¥400

Dividend per share
InterimYr-endAnnualYear to Aug. 2022

93.3yen113.3yen

206.7yen

Year to Aug. 2023

125.0yen

165.0yen

290.0yen

Year to Aug. 2024 (as of Apr.11)

175.0yen

175.0yen

350.0yen

Year to Aug. 2024 (revised E) (as of July.11) *175.0yen

225.0yen

400.0yeny/y+50.0yen+60.0yen +110.0yen* The dividend may be adjusted in the event of large fluctuations in business performance or demand for funds.
Note: Fast Retailing Co., Ltd. conducted a three-for-one stock split for each common share with an effective date of March 1, 2023.
The dividends for previous business years have also been adjusted to reflect the recent stock split.

27

Finally, I would like to explain our dividend policy for FY2024.
We are now scheduled to increase the year-end dividend of ¥175 per share announced in April to¥225.
Combining that with the interim dividend of ¥175 per share that has already been paid out would
result in an expected annual dividend for FY2024 of ¥400, an increase of ¥110 compared withFY2023.
That completes this presentation on Fast Retailing’s third-quarter performance and outlook for the
coming business year through August 31, 2024.
The remaining four slides are provided for your reference. Thank you.

Reference: Group Company Store Numbers (1)unit: stores

FY2023

Yr-endUNIQLO Operations
UNIQLO Japan*
Own storesFranchise stores
UNIQLO International
Greater China
Mainland China
Hong Kong
Taiwan
Korea
S/SE Asia & Oceania
Singapore
Malaysia
ThailandPhilippines
Indonesia
Australia
Vietnam
India

2,434
800
790
10
1,634
1,031
925
33
73
126
342
29
54
62
71
64
33
19
10

FY2024 3Q Result (Sep. - May.)

Open

163
35
35
0
128
46
42
0
4
10
50
2
14
7
6
9
5
4
3

Close

102
37
37
0
65
47
43
0
4
8
10
0
7
1
1
1
0
0
0

ChangeEnd May.

+61
-2
-2
0
+63
-1
-1
0
0
+2
+40
+2
+7
+6
+5
+8
+5
+4
+3

2,495
798
788
10
1,697
1,030
924
33
73
128
382
31
61
68
76
72
38
23
13

FY2024 Estimates (Sep. - Aug.)

Open

184
37
147
55
10
54
-

Close

112
39
73
-

Change

+72
-2
+74
-

End Aug.

2,506
798
1,708
-

(Continues on the next slide)

Note: Excludes Mina (Commercial Facility Business) and pop-up stores.
*Includes franchise stores28

Reference: Group Company Store Numbers (2)FY2023

unit: storesYr-endFY2024 3Q Result (Sep. - May.)

Open

Close

ChangeEnd May.

+14
+9
+5
+8
+2
+3
0
0
0
0
0
0
+2
+1
0
+13
-29
+10
-12
-23
-4
+45

81
58
23
76
19
28
10
3
6
3
2
1
3
1
0
476
652
446
40
85
81
3,623

FY2024 Estimates (Sep. - Aug.)

Open

Close

ChangeEnd Aug.

UNIQLO International
North America
USA
CanadaEuropeUK
FranceGermany
Belgium
Spain
SwedenThe Netherlands
Denmark
Italy
Luxembourg
PolandGU
Global Brands
Theory*PLSTComptoir des Cotonniers*
Princesse tam.tam*

Total

67
49
18
68
17
25
10
3
6
3
2
1
1
0
0
463
681
436
52
108
85
3,578

14
9
5
8
2
3
0
0
0
0
0
0
2
1
0
37
44
31
6
3
4
244

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
24
73
21
18
26
8
199

Note: Excludes Mina (Commercial Facility Business) and pop-up stores.
*Includes franchise stores

20
8
39
44
267

26
103
241

+13
-59
+26

476
622
3,604
29

Reference: Foreign Exchange Rates
Exchange rates used in consolidated accounts
unit : yen

1USD

1EUR

1GBP

FY2023 3Q 9-month average to May. 2023

137.5

143.7

164.5

19.7

10.3

FY2024 3Q 9-month average to May. 2024

149.0

161.1

187.1

20.6

11.2

FY202312-month average to Aug. 2023

138.6

146.4

168.2

19.7

10.5

FY2024 (E) 12-month average to Aug. 2024

152.0

164.1

191.5

21.0

11.3

unit : yen

1USD

1EUR

1GBP

FY2023 3Q Exchange rate at end May.2023

139.8

150.0

173.6

19.7

10.6

FY2024 3Q Exchange rate at end May.2024

156.8

169.7

199.5

21.6

11.4

FY2023

Exchange rate at end Aug. 2023

146.2

159.8

186.0

20.0

11.1

FY2024 (E) Exchange rate at end Aug. 2024

156.8

169.7

199.5

21.6

11.4

1RMB 100KRW

Exchange rates used on balance sheet
1RMB 100KRW

30

Reference: Capex, Depreciation

Capex and Depreciation
unit : billions of yen

Capex
UNIQLOJapan

UNIQLO
Intl.

GU

GlobalBrandsSystems,
etc

Total

Depreciation

FY2023

3Q 9 months

22.2

24.6

7.8

1.2

26.2

82.1

139.2

FY2024

3Q 9 months

10.6

37.7

5.5

1.3

27.0

82.2

151.5

FY2023Full-year 12 months

23.6

33.3

8.7

1.8

34.4

102.0

186.8

FY2024 (E)Full-year 12 months

10.8

46.4

6.5

1.9

31.4

97.0

197.0

31