FAST RETAILING CO., LTD.
迅 銷 有 限 公 司Interim Report 2023/24
2023.9.1–2024.2.29
Stock Code: 6288

Contents
1. Corporate Profile

1

2. Financial Highlights

2

3. Management Discussion and Analysis

4

4. Information about the Reporting Entity

9

5. Financial Section

14

1. Interim Condensed Consolidated Financial Statements(1) Interim Condensed Consolidated Statement of
Financial Position

15(2) Interim Condensed Consolidated Statement ofProfit or Loss and Interim Condensed Consolidated
Statement of Comprehensive Income
Interim Condensed Consolidated Statement of Profit or Loss

17

Interim Condensed Consolidated Statement ofComprehensive Income19(3) Interim Condensed Consolidated Statement of
Changes in Equity

21(4) Interim Condensed Consolidated Statement of Cash Flows23

2. Others

35

Independent Accountant’s Review Report361. Corporate Profile
Board of Directors
Representative Executive Director

Principal Place of Business in Japan
Midtown Tower 9-7-1

Tadashi Yanai (Chairman, President and CEO)Akasaka, Minato-ku
Tokyo 107-6231

Executive Directors
Takeshi Okazaki

Japan

Kazumi Yanai
Koji Yanai

Principal Place of Business in Hong Kong
702–706, 7th Floor, Mira Place Tower A

Independent Non-executive Directors

No. 132 Nathan Road
Tsim Sha Tsui

Nobumichi Hattori (External)
Masaaki Shintaku (External)

KowloonHong Kong

Naotake Ono (External)
Kathy Mitsuko Koll (aka Kathy Matsui) (External)

HDR Registrar and HDR Transfer OfficeJoji Kurumado (External)
Yutaka Kyoya (External)

Computershare Hong Kong Investor Services Limited
Shops 1712–1716, 17th Floor

Audit & Supervisory Boards

Hopewell Centre
183 Queen’s Road East

Masaaki Shinjo
Masumi Mizusawa

WanchaiHong Kong

Tomohiro Tanaka
Keiko Kaneko (External)

Stock Code

Takao Kashitani (External)
Masakatsu Mori (External)

Hong Kong: 6288
Japan: 9983

Company Secretary

Website Address

Shea Yee Man

https://www.fastretailing.com

Independent Accountants
Deloitte Touche Tohmatsu LLC
Principal Banks
Sumitomo Mitsui Banking Corporation
MUFG Bank, Ltd.
Mizuho Bank, Ltd.
The Hong Kong and Shanghai Banking Corporation Limited
Registered Office and Headquarters
10717-1 Sayama
Yamaguchi City
Yamaguchi 754-0894
Japan

- 1 -

2. Financial Highlights
Consolidated Financial Summary
Term

Half-yearly
periodof
62nd Fiscal
Year

Half-yearly
periodof63rd Fiscal
Year

62nd Fiscal
Year

Accounting period

Six months
ended
28 February2023

Six months
ended
29 February
2024

Year ended
31 August
2023

1,467,350

1,598,999

2,766,557

Operating profit (Millions of yen)

220,263

257,085

381,090

Profit before income taxes (Millions of yen)

230,499

299,395

437,918

153,392

195,912296,229

124,748

292,218

423,601

Equity attributable to owners of the Parent (Millions of yen)

1,602,173

2,007,862

1,821,405

Total assets (Millions of yen)

3,015,617

3,495,845

3,303,694

Basic earnings per share (Yen)

500.29638.79966.09Diluted earnings per share (Yen)

499.56637.68964.48

53.1

57.4

55.1

Net cash generated by operating activities (Millions of yen)

177,454322,378

463,216

Net cash used in investing activities (Millions of yen)

(472,762)(54,162)(574,402)

Net cash used in financing activities (Millions of yen)

(159,701)(131,429)(364,562)

888,605

1,065,864

903,280

Three months
ended
28 February
2023

Three months
ended
29 February
2024

Revenue (Millions of yen)

750,957

788,165

Profit attributable to owners of the Parent (Millions of yen)

68,31888,111

Basic earnings per share for the period (Yen)

222.80287.28

Revenue (Millions of yen)

Profit for the period attributable to ownersof the Parent (Millions of yen)Comprehensive income attributable to ownersof the Parent (Millions of yen)

Ratio of equity attributable to owners of the Parent to total assets (%)

Cash and cash equivalents at end of the period (year) (Millions ofyen)Accounting period(Notes) 1. FAST RETAILING CO., LTD. (the “Company”, the “Parent”, or the “Reporting entity”) prepared interim condensed
consolidated financial statements and therefore has not included the non-consolidated financial summary of the Reporting
entity.
2. The financial figures are sourced from the interim condensed consolidated financial statements or consolidated financial
statements prepared in accordance with International Financial Reporting Standards (“IFRS”).
3. Our common stock has been split on a 3-to-1 basis, effective 1 March 2023. Basic earnings per share, and diluted earnings
per share have been calculated assuming this stock split was conducted at the beginning of the previous fiscal year.

- 2 -Business Description
There were no significant changes in the nature of the business engaged by the Company and its subsidiaries (collectively, the“Group”) during the six months ended 29 February 2024.
In addition, there were no significant changes in the organizational structure of the Group, including the major subsidiaries, during thesix months ended 29 February 2024.

- 3 -3. Management Discussion and Analysis
Business Review
1. Business and Operational Risks
No new business-related risks have arisen during the six months ended 29 February 2024.
There have been no significant changes concerning business-related risks as stated in the annual report for the preceding fiscal year.
2. Financial Analysis(1) Financial Position and Results of Operations(ⅰ) Results of Operations
The Fast Retailing Group reported an increase in revenue and a significant rise in profit in the first half of fiscal 2024, or the six
months from 1 September 2023 to 29 February 2024, with consolidated revenue totaling 1.5989 trillion yen (+9.0% year-on-year)
and operating profit rising to 257.0 billion yen (+16.7% year-on-year). This represented a new record consolidated performance
fueled primarily by considerably higher first-half profits from UNIQLO operations in North America, Europe, and Southeast Asiaand our GU operation, which are proving to be the key drivers of Group expansion. Fast Retailing’s consolidated gross profit
margin improved by 2.4 points year-on-year to 52.9%. The selling, general and administrative expense ratio increased by 1.5
points year-on-year to 37.2% due to a change in the practice followed through fiscal 2023 of recording year-end bonuses on alump sum basis in August to recording year-end bonuses on a monthly basis from fiscal 2024 after defining our operational policy
to align with the actual payment practice of year-end bonuses. If the impact is excluded, the ratio increased by 0.9 points. In
addition, we recorded 42.3 billion yen under finance income net of costs, comprising 25.7 billion yen in net interest income and16.5 billion yen in translated foreign exchange gains on foreign-currency denominated assets. As a result, first-half profit before
income taxes increased to 299.3 billion yen (+29.9% year-on-year) and profit attributable to owners of the Parent increased to
195.9 billion yen (+27.7% year-on-year).
The Fast Retailing Group has been focusing on a number of areas as part of its endeavor to become a global No.1 brand that isessential to daily living and is trusted by all customers around the world. Those measures include (1) Further progressing thedevelopment of a digital consumer retailing industry, (2) Diversifying global earnings pillars, (3) Pursuing a business model inwhich the development of business contributes to sustainability, (4) Expanding the GU business segment, as well as Theory andother Global brands, and (5) Strengthening Human Capital. We aim to enhance our product development and branding andaccelerate high-quality store openings at UNIQLO International in particular as the growth pillar of the Fast Retailing Group. We
are also committed to creating LifeWear, simple and high-quality everyday clothing, in order to help build a sustainable society.
Our aim is to create high-quality clothing that lasts a long time, clothing that exerts a lower impact on the planet and is made in
healthy and safe working environments, and circular clothing that can be recycled or reused.
UNIQLO Japan
UNIQLO Japan reported a decline in revenue but a significant increase in profit in the first half of fiscal 2024, with revenue
contracting to 485.1 billion yen (−2.0% year-on-year) and operating profit rising to 77.2 billion yen (+14.7% year-on-year). Firsthalf same-store sales declined by 3.4% year-on-year. This was due to warmer-than-usual temperatures that stifled demand for Fall
Winter ranges at the beginning of the season in September, October and then again during the bumper sales period of December,and due to our inability to compile a suitable product lineup for the warm winter weather or convey sufficient product-related
information. The gross profit margin improved by a considerable 3.6 points year-on-year thanks primarily to an improvement incost of sales. In the first half of fiscal 2023, cost of sales deteriorated following the sharp weakening in yen spot rates used for
additional production orders. However, in the first half of fiscal 2024, greater control over orders reduced the amount ofadditional production, lessening the impact of spot exchange rates and greatly improving first-half cost of sales. The selling,
general and administrative expense ratio increased by 1.3 points year-on-year due primarily to lower sales and higher personnel
costs and depreciation and amortization ratios.
UNIQLO International
UNIQLO International reported significant increases in revenue and profit in the first half of fiscal 2024, with revenue rising to883.9 billion yen (+17.0% year-on-year) and operating profit expanding to 150.9 billion yen (+23.0% year-on-year). UNIQLO
operations in North America and Europe performed particularly well, with operational growth entering a virtuous cycle on theback of growing customer affinity toward LifeWear, an expanding customer base, and an accelerated opening of new stores.
Breaking down the UNIQLO International performance into individual regions and markets and viewing performance on a local
currency basis, the Mainland China market reported a rise in revenue but a slight contraction in profit in the first half. However, if
you exclude the impact caused by the changes in the timing of recording year-end bonuses, profit did actually increase slightly- 4 -year-on-year. Same-store sales in the Mainland China market increased by approximately 20% year-on-year in the first quarter
from September to November 2023 thanks to strong sales of Winter ranges, which resulted in an increase in same-store sales forthe first half overall. In the second quarter from December 2023 to February 2024, same-store sales contracted slightly on theback of a general slowdown of consumer appetite and our own inability to offer ranges that matched demand in the face of warm
winter weather and volatile temperatures. First-half revenue and profits from the Hong Kong market rose, while the Taiwan
market generated higher revenue and a flat operating profit result. UNIQLO South Korea reported higher revenue and profit in thefirst half by successfully coinciding the launch of Winter ranges with the onset of colder weather. Revenue and profit rose
considerably in the Southeast Asia, India & Australia region thanks to strong sales of Winter items and subsequent Spring
Summer ranges, which were put on display earlier than usual in local stores. Meanwhile, UNIQLO North America and UNIQLO
Europe both reported significant increases in first-half revenue and profit, with extremely strong performances being buoyed bycontinued growth in new customer bases and growing support for LifeWear among local customers.
GU
The GU business segment reported higher revenue and a significant increase in profit in the first half of fiscal 2024, with revenue
rising to 159.5 billion yen (+9.6% year-on-year) and operating profit totaling 15.3 billion yen (+17.5% year-on-year). Thanks toefforts to prepare ample volumes of products that captured mass fashion trends and to strengthen sales, GU generated strong salesof Heavy Weight Sweat Shirts, Heat Padded outerwear, Cargo Pants, Wide Jeans, and other products, contributing to an increasein first-half same-store sales. Furthermore, the GU operating profit margin improved by 0.6 points year-on-year as improvements
in production efficiency and other factors helped improve cost of sales and the gross profit margin.
Global Brands
The Global Brands segment reported a decline in revenue to 69.4 billion (−1.2% year-on-year) in the first half of fiscal 2024 andan operating loss of 1.7 billion yen (compared with a profit of 0.1 billion yen in the first half of fiscal 2023). While our Theory
brand generated higher revenue thanks to strong sales in Japan and Asia, profit declined on the back of higher personnel costs
resulting from salary increases and a rise in the selling, general and administrative expense ratio. Our PLST brand reported adecline in revenue as efforts to reform business operations resulted in an approximate 60% reduction in store numbers. The brandalso reported a slight operating loss of similar level to the previous year. Finally, our France-based Comptoir des Cotonniers brandreported a decline in revenue as structural reforms reduced the store network by approximately 10% compared with the previous
year and shortages of key Winter ranges made it difficult to attract customers. The first-half operating loss reported by Comptoir
des Cotonniers was similar to that of the previous year.
Sustainability
Fast Retailing is advancing its LifeWear concept—the ultimate in everyday clothing, designed to make everyone's life better—tocreate apparel that emphasizes being environmentally friendly, protecting human rights and contributing to society, in addition toquality, design and price.
We have identified six priority areas (materialities) for our sustainability activities. The main company activities during the secondquarter consolidated accounting period are as follows.
■ Creating new value through products and sales: UNIQLO is promoting its "RE.UNIQLO" initiative that contributes to a recyclingbased society by creating ways in which clothes can continue to be utilized, as part of its REDUCE, REUSE, RECYCLE activities.
For REDUCE, as of the end of February 2024, RE.UNIQLO Studio, which offers clothing repair, remaking and upcycling services,
has been rolled out to 42 stores across 19 countries and regions, and there are plans to expand it to more than 50 stores globallyby the end of December 2024. For REUSE, following on the UNIQLO Harajuku store in October 2023, which was well received
by many customers, we are conducting the second round of trials of the UNIQLO Pre-Owned Clothes Project at UNIQLO's
Setagaya Chitosedai store from March 2024, with plans to also run this at UNIQLO's Tenjin store from April.
■ Respecting human rights and labor environment in the supply chain: We are also continually strengthening our efforts to improvetransparency and traceability and respect human rights and labor environments. In recognition of these efforts, in 2023 we wereranked fourth out of 65 apparel companies worldwide and ranked first in the Asia-Pacific region by KnowTheChain, a benchmarkthat evaluates companies' efforts to address the risks of forced labor in their supply chains. We were recognized in particular forour signing of the International Accord for Health and Safety in the Textile and Garment Industry and the Pakistan Accord, bothof which are legally binding agreements aimed at protecting the health and safety of textile and garment industry workers. In
addition, we were recognized for our efforts to protect the human rights of migrant workers.
- 5 -■ Consideration for the environment: We have set ourselves the goal of reducing greenhouse gas emissions at our stores and offices
by 90% by the fiscal period ending August 2030 compared to FY2019, and by 20% in our supply chains. We are strengthening ourefforts to introduce renewable energy within the company and to resolve factory-specific issues together with UNIQLO and GU's
main factories, while at the same time ensuring continuous information disclosures. In recognition of our climate change efforts anddisclosures, for the second consecutive year we have been recognized in 2023 as an "A-List" company in the Climate Change
program by international non-profit organization CDP. In addition, we were also awarded the highest rank of "Supplier Engagement
Leader" in the Supplier Engagement Rating, which evaluates how effectively companies work with their suppliers on climate change
issues.
■ Community co-existence and mutual support: In response to requests from local authorities, NPOs, NGOs and other aid
organizations, we are providing emergency assistance to the victims of the January 1, 2024 Noto Peninsula earthquake. We havedonated a total of 88,000 UNIQLO and GU products (as of the end of February 2024) to cities such as Wajima, Nanao, Suzu, Notoand Hakusan in Ishikawa Prefecture through local authorities, NPOs, NGOs and other aid organizations. In addition, we have donateda total of JPY 100 million to ADRA Japan, a certified NPO involved in emergency relief in disaster areas, certified NPO Peace
Winds Japan, and Save the Children Japan.
UNIQLO is also promoting the PEACE FOR ALL initiative, in which graphic T-shirts designed by celebrities who agree with ourdesire to take action for world peace are sold worldwide at UNIQLO stores and online, with all profits (equivalent to 20% of thesale price per shirt) donated to three humanitarian aid organizations with which we have formed a partnership. Donations are used
to support activities that help those affected by poverty, discrimination, violence, conflict, and war. Since the start of the initiative inJune 2022, 38 groups of celebrities have participated, with donations totaling JPY 970 million by the end of January 2024.

■ Supporting employee fulfillment: We are implementing various initiatives to promote diversity in four priority areas of gender,
Global One Team, disabilities and LGBTQ+, including the introduction of systems and training programs to support relevant parties.
The Human Rights Committee in the first half of 2024 discussed reports and measures to address the issues improving the ratio of
women in managerial positions and reducing the gender pay gap going forward. Based on the committee's discussions, women's
human resources development meetings were held in January and February 2024, in which there were discussions arounddevelopment plans and skills development for female management candidates. In addition, with the revised Act for Eliminating
Discrimination against Persons with Disabilities coming into force in Japan in April 2024, companies will have to provide reasonableaccommodations for persons with disabilities. In February 2024, we conducted training for UNIQLO and GU sales employees todeepen their understanding of disabilities and to encourage their consideration for customers and employees.
■ Implementing good corporate governance: To enable rapid and transparent management, we have a number of committees
engaged in open and active discussions. The Human Rights Committee reported on the current status and issues raised via Fast
Retailing's employee hotline and the Fast Retailing hotline for factory employees, and discussed ways of improving the system.
The committee also reported on the results of the annual human rights survey conducted in Japan and discussed measures to betaken, and also discussed policies for monitoring the working environments at factories. The Nomination and Remuneration
Advisory Committee discussed the requirements, nomination policy and appointment proposals for corporate auditor candidates,in addition to discussing the remuneration for internal directors.

- 6 -(ⅱ) Financial Position
Total assets as at 29 February 2024 were 3.4958 trillion yen, which was an increase of 192.1 billion yen relative to the end of thepreceding fiscal year. The principal factors were an increase of 162.5 billion yen in cash and cash equivalents, a decrease of 46.9
billion yen in other current financial assets, a decrease of 34.8 billion yen in inventories, an increase of 26.2 billion yen inderivative financial assets, a decrease of 21.1 billion yen in income taxes receivables, an increase of 7.8 billion yen in property,
plant and equipment, an increase of 8.9 billion yen in right-of-use assets and an increase of 83.3 billion yen in non-current
financial assets.
Total liabilities as at 29 February 2024 were 1.4281 trillion yen, which was a decrease of 2.1 billion yen relative to the end of thepreceding fiscal year. The principal factors were a decrease of 28.1 billion yen in trade and other payables, an increase of 22.1
billion yen in other current financial liabilities, an increase of 2.7 billion yen in current tax liabilities and an increase of 1.1 billion
yen in provisions.
Total net assets as at 29 February 2024 were 2.0676 trillion yen, which was an increase of 194.3 billion yen relative to the end of
the preceding fiscal year. The principal factors were an increase of 145.3 billion yen in retained earnings, an increase of 40.5
billion yen in other components of equity and an increase of 7.8 billion yen in non-controlling interests.
(2) Cash Flows Information
Cash and cash equivalents as at 29 February 2024 had increased by 162.5 billion yen from the end of the preceding fiscal year, to1.0658 trillion yen.
(Operating Cash Flows)
Net cash generated by operating activities for the six months ended 29 February 2024 was 322.3 billion yen (177.4 billion yen
was generated during the six months ended 28 February 2023). The principal factors were cash inflow from profit before tax for299.3 billion yen and depreciation and amortization for 99.7 billion yen, and cash outflow from decrease in trade and otherpayables for 31.0 billion yen and taxes paid for 90.7 billion yen.
(Investing Cash Flows)
Net cash used in investing activities for the six months ended 29 February 2024 was 54.1 billion yen (472.7 billion yen was usedduring the six months ended 28 February 2023). The principal factors were 30.1 billion yen in payments for acquisition ofproperty, plant and equipment and 15.6 billion yen in payments from acquisition of intangible assets.
(Financing Cash Flows)
Net cash used in financing activities for the six months ended 29 February 2024 was 131.4 billion yen (159.7 billion yen wasused during the six months ended 28 February 2023). The principal factors were 50.5 billion yen in dividend payments and 73.9
billion yen in repayments of lease liabilities.
(3) Estimates and Assumptions Used for Those Estimates in the Accounting
For the second-quarter consolidated accounting period, there are no significant changes to the estimates or the assumptions used
for those estimates.
(4) Operational and Financial Challenges to Address as Priority
There have been no significant challenges during the six months ended 29 February 2024 that must be addressed by the Group.
(5) Research and Development
Not applicable.

- 7 -(6) Significant Facilities
The following are the significant facilities that were newly completed during the six months ended 29 February 2024.
<Subsidiaries in Japan>
Not applicable.
<Overseas Subsidiaries>
Not applicable.
The following are the significant facilities that were newly planned during the six months ended 29 February 2024.
<Subsidiaries in Japan>
Company nameUNIQLO CO., LTD.

Type of facility

Name of business

UNIQLO Japan

Urawamisonostoresstore<Overseas Subsidiaries>
Not applicable.
3. Significant Contracts in Business Operation
None.

- 8 -

Location
SaitamaCompletion date
April 2024

4. Information about the Reporting Entity
1. Stock Information(1) Number of Shares(i) Total number of shares
Type

Total number of authorized shares (shares)

Common stock

900,000,000

Total

900,000,000(ii) Shares Issued

Type

Number of shares issued
as at 29 February 2024
(shares)Number of shares issued
as at submission date(shares)(As at 12 April 2024)

Name of financial
instrument exchangeof listing, or authorized
financial instruments
firms association

Remarks

Prime market of theTokyo
Stock Exchange andCommon stock

318,220,968

318,220,968

the Main Board of
the Stock Exchange of

100 sharesas one unit

Hong Kong Limited(Note 1)
Total

318,220,968

318,220,968-(Notes) Hong Kong Depositary Receipts are listed on the Main Board of the Stock Exchange of Hong Kong Limited.

- 9 -

-

(2) Share Subscription Rights
1. Details of the Stock Option Program
The Company has instituted a stock option program that grants rights to acquire new shares pursuant to the Companies Act ofJapan. Share subscription rights issued in the three months ended 29 February 2024 are as follows:(i) 14th Share subscription rights A type
Resolution date

21 December 2023

Class and number of recipients (Persons)

Employees of the Company: 37

Number of stock options (Shares)

16,643

Type of shares to be issued upon exercise of share

Common Stocksubscription rights
Number of shares to be issued upon exercise of sharesubscription rights (Shares)

16,643

Amount to be paid upon exercise of share subscription rights

Number of shares allocated times 1 yen exercise price pershare for all shares to be obtained through exercise of the(Yen)share subscription rights.

Exercise period of share subscription rights

From 19 January 2027
to 18 January 2034

Fair value on the grant date and amount of paid-in capital per
share upon exercise of share subscription rights (Yen)

Issue price: 36,888
Paid-in capital: 18,444
If a holder of share subscription rights waives the right toExercise conditions of share subscription rights

Matters pertaining to transfer of share subscription rights

acquire shares, the share subscription rights shall be forfeited
and may not be exercised.
Any acquisition of share subscription rights by transfer shallrequire an authorizing resolution from the Board of Directors.

Matters pertaining to issuing of share subscription rights in(Notes)conjunction with reorganization*The above information is disclosed as at the date of issuing share subscription rights (19 January 2024).
(Notes) Upon any reorganization of the Company (collectively referred to as “Reorganization”) consisting of a merger (limited tocases where the Company becomes extinct thereby), absorption-type company split or incorporation-type company split (ineach event, limited to cases where the Company is the entity resulting from the company split), or exchange or transfer ofshares (in each event, limited to cases where the Company becomes a wholly owned subsidiary), parties holding sharesubscription rights in existence immediately preceding the effective date of such Reorganization (hereinafter referred to as“Outstanding Share Subscription Rights”) shall, in each applicable case, be issued share subscription rights for shares of theresulting company as prescribed in Article 236 (1) viii of the Companies Act of Japan (hereinafter referred to as the “Company
Resulting from Reorganization”). In such event, any Outstanding Share Subscription Rights shall lapse and the Company
Resulting from Reorganization shall issue new share subscription rights; however, provided that terms and conditions
stipulating that the Company Resulting from Reorganization shall issue share subscription rights that prescribe the mattersstated below shall be included in any absorption merger agreement, new merger agreement, absorption-type company split
agreement, incorporation-type company split plan, share exchange agreement or transfer of shares plan.
1. Number of share subscription rights to be issued by the Company Resulting from Reorganization: Each holder of
Outstanding Share Subscription Rights shall be issued the same number thereof.
2. Type of shares of the Company Resulting from Reorganization underlying the share subscription rights: Common stock of
the Company Resulting from Reorganization.
3. Number of shares of the Company Resulting from Reorganization underlying the share subscription rights:
A proposal stating the conditions for Reorganization and the like shall include a finalized statement of the type and numberof shares underlying the above-mentioned share subscription rights.

- 10 -

4. Value of property to be incorporated upon exercise of the share subscription rights:
The value of property to be incorporated upon exercise of share subscription rights that are issued shall be the amountobtained by multiplying the exercise price after reorganization prescribed below by the number of shares of the Company
Resulting from Reorganization underlying the share subscription rights that have been finalized as stated in No. 3. above.
The exercise price after Reorganization shall be 1 yen per share of the Company Resulting from Reorganization that can beissued upon exercise of each share subscription right that is issued.
5. Period during which share subscription rights can be exercised:
The period from the later of either the first day of the period during which share subscription rights can be exercised asprescribed above or the day on which a Reorganization takes effect through the final day of the period during which sharesubscription rights can be exercised as prescribed above.
6. Matters pertaining to the increase of capital and capital reserve resulting from the issuance of shares upon exercise of theshare subscription rights:
To be determined in order to align with the conditions applicable to the subject share subscription rights.
7. Restrictions on acquisition of share subscription rights by transfer:Any acquisition of share subscription rights by transfer shall require an authorizing resolution from the Board of Directorsof the Company Resulting from Reorganization.
8. Terms and conditions for acquisition of share subscription rights:
To be determined in order to align with the conditions applicable to the subject share subscription rights.
9. Conditions for exercise of share subscription rights:
To be determined in order to align with the conditions applicable to the subject share subscription rights.
2. Other Share Subscription Rights
Not applicable.
(3) Exercise of convertible bonds with conditional permission for adjustment of exercise priceNot applicable.
(4) Change in total number of Shares Issued, Capital Stock, Etc.
Increase/
Balance ofIncrease/(decrease) of
total(decrease) of
Date
total number of
number ofcapital stock
shares issued
shares issued(Millions of(shares)(shares)yen)
1 December 2023
to-318,220,968-

Balance ofcapital stock(Millions ofyen)

Increase/(decrease) ofcapital reserve(Millions ofyen)

Balance ofcapital reserve(Millions ofyen)

10,273-

4,578

29 February 2024
(Note) There was no change in the total number of shares issued, capital stock or capital reserve during the three months ended 29
February 2024.

- 11 -

(5) Major Shareholders

Name or trade name

As at 29 February 2024
As a percentage
Number ofover total
shares heldnumber of(in thousands
sharesof shares)(excluding
treasury stock)

Location

The Master Trust Bank of Japan, Ltd.

2-11-3 Hamamatsu-cho, Minato-ku,
Tokyo65,652

21.41

Tadashi Yanai

Shibuya-ku, Tokyo

56,571

18.44

Custody Bank of Japan, Ltd.

1-8-12 Harumi, Chuo-ku, Tokyo

32,062

10.45

TTY Management B.V.

Prinsengracht 769A, 1017 JZ,
Amsterdam, The Netherlands

15,930

5.19

Kazumi Yanai

New York, U.S.A.

14,345

4.68

Koji Yanai

Shibuya-ku, Tokyo

14,344

4.68

Fight & Step Co., Ltd.

1-4-3 Mita, Meguro-ku, Tokyo

14,250

4.65

MASTERMIND, LLC

1-4-3 Mita, Meguro-ku, Tokyo

10,830

3.53

STATE STREET BANK AND TRUSTCOMPANY (Standing proxy Mizuho

P.O. Box 351, Boston, Massachusetts,
U.S.A., 02101

8,922

2.91

Bank, Ltd.)(2-15-1, Konan, Minato-ku, Tokyo)
8,097

2.64

241,006

78.58

JP MORGAN CHASE BANK (Standing
proxy Mizuho Bank, Ltd.)
Total

25 Bank Street, Canary Wharf, London
E14 5JP, United Kingdom (2-15-1,
Konan, Minato-ku, Tokyo)-(Notes) 1. “Number of shares held” is rounded down to the nearest unit of thousand shares.
2. The shares held by The Master Trust Bank of Japan, Ltd. and Custody Bank of Japan, Ltd. are all held in conjunction withtrust businesses.
3. According to the report of large shareholdings (Report of Change of Composition) submitted on 9 November 2023 byNomura Securities Co., Ltd. and the two parties of Nomura International PLC and Nomura Asset Management Co., Ltd.,
which are all joint shareholders, each party held the shares stated below as at 1 November 2023. However, since theCompany has not been able to confirm the number of shares actually held as at 29 February 2024, these shareholdings havenot been included in the above table of major shareholders.

Name or trade nameLocation

Number ofshares held
(in thousands ofshares)Percentage of
total number ofshares issued

Nomura Securities Co., Ltd.

1-13-1 Nihonbashi, Chuo-ku, Tokyo

276

0.09

Nomura International PLC

1 Angel Lane, London EC4R 3AB,
United Kingdom

385

0.12

Nomura Asset Management Co., Ltd.

2-2-1 Toyosu, Koto-ku, Tokyo

31,86810.01

4. In addition to the above, 11,510,097 shares of treasury stock are held by the Company.

- 12 -

(6) Voting Rights(i) Shares issued
As at 29 February 2024
Number of shares(shares)Number of voting rights

Remarks

Non-voting shares

-

-

-

Shares subject to restrictions on voting rights(e.g., treasury stock)

-

-

-

-

-

-

-

-

Class

Shares subject to restrictions on voting rights(e.g., other than treasury stock)(Shares held as
Shares with full voting rights(e.g., treasury stock)treasury stock)
Common stock
11,510,000

Shares with full voting rights(e.g., other than treasury stock)

Common stock
306,561,700

Shares less than one unit

Common stock
149,268-(Notes) 1, 2

318,220,968--

Total number of shares issued
Total number of voting rights of all

3,065,617-

shareholders(Note) 1

3,065,617-(Notes) 1. The columns for the number of shares of “Shares with full voting rights (e.g., other than treasury stock)” and “Shares lessthan one unit” include 8,300 shares and 52 shares, respectively, held in the name of Japan Securities Depository Center, Inc.
2. Common stock in the “Shares less than one unit” row includes 97 shares of treasury stock held by the Company.
(ii) Treasury Stock

Name or trade name ofholderFAST RETAILING
CO., LTD.
Total

Holder’s address

As at 29 February 2024
Percentage ofTotal number of
total number ofshares held
shares issued(shares)(%)

Number ofshares held in
own name(shares)Number ofshares held inother’s name(shares)

11,510,000-

11,510,000

3.62

11,510,000-

11,510,000

3.6210717-1 Sayama,
Yamaguchi-shi,
Yamaguchi-

2. Directors
Since the submission of the year-end report for the preceding fiscal year, there has been no change of directors during the six
months ended 29 February 2024.

- 13 -

5. Financial Section
1. Preparation of Interim Condensed Consolidated Financial Statements
The interim condensed consolidated financial statements of the Group, namely, the interim condensed consolidated statement offinancial position as at 29 February 2024, the interim condensed consolidated statement of profit or loss and interim condensed
consolidated statement of comprehensive income for the three-month and six-month periods then ended, the interim condensed
consolidated statement of changes in equity and interim condensed consolidated statements of cash flows for the six-month period
then ended, and the related notes (collectively, the “interim condensed consolidated financial statements”) were prepared inaccordance with International Accounting Standard 34, Interim Financial Reporting (“IAS 34”), pursuant to Article 93 of the “Rules
Governing Term, Form and Preparation of Consolidated Quarterly Financial Statements” (Cabinet Office Ordinance No. 64 of 2007,
hereinafter referred to as “Consolidated Quarterly Financial Statements Rules”).
2. Review Report
Pursuant to the first clause of Article 193-2 of the Financial Instruments and Exchange Act, the interim condensed consolidated
financial statements have been reviewed by Deloitte Touche Tohmatsu LLC.

- 14 -

(Amounts are stated in millions of yen and are rounded down to the nearest million unless otherwise stated)

1. Interim Condensed Consolidated Financial Statements(1) Interim Condensed Consolidated Statement of Financial Position(Millions of yen)Notes

As at 31 August 2023

As at 29 February 2024

903,280

1,065,864

ASSETS
Current assets
Cash and cash equivalents
Trade and other receivables
Other financial assets

14

66,831
576,194

66,635529,265

Inventories
Derivative financial assets

6
14449,254
132,101

414,432
152,01123,66025,372

2,490
27,2792,176,695

2,257,979

221,877

229,710389,183
8,092

398,176
8,092

87,300240,363

91,954
323,728

18,974

19,601

Income taxes receivable
Other assets
Total current assets
Non-current assets
Property, plant and equipment

7

Right-of-use assets
Goodwill
Intangible assets
Financial assets
Investments in associates accounted for using

14

the equity method
Deferred tax assets

38,20839,525

114,151
8,846

120,469
6,606

1,126,998

1,237,865

3,303,694

3,495,845

338,901
61,913

310,755
84,062

3,600
126,992

4,160
129,120

Current tax liabilities
Provisions

65,4282,642

68,200
1,781

Other liabilities

129,782

127,011729,260

725,092

241,068
338,657

241,161
338,647

50,88867,03952,89467,704

1,410
2,007

710
1,971

Derivative financial assets
Other assets

14

Total non-current assets
Total assets
Liabilities and equity
LIABILITIESCurrent liabilities
Trade and other payables
Other financial liabilities
Derivative financial liabilities
Lease liabilities

14
14

Total current liabilities
Non-current liabilities
Financial liabilities
Lease liabilities

14

Provisions
Deferred tax liabilities
Derivative financial liabilities
Other liabilities

14

Total non-current liabilities
Total liabilities- 15 -

701,072

703,092

1,430,333

1,428,184

Notes

As at 31 August 2023

As at 29 February 2024

10,273

10,27328,531
1,498,348

29,0891,643,660(14,714)
298,965(14,660)
339,500

Equity attributable to owners of the Parent
Non-controlling interests

1,821,405
51,955

2,007,862
59,797

Total equity

1,873,360

2,067,660

3,303,694

3,495,845

EQUITY
Capital stock
Capital surplus
Retained earnings
Treasury stock, at cost
Other components of equity

Total liabilities and equity- 16 -

(2) Interim Condensed Consolidated Statement of Profit or Loss and Interim Condensed Consolidated Statement of Comprehensive
IncomeInterim Condensed Consolidated Statement of Profit or Loss
Six months ended 29 February 2024
(Millions of yen)
Notes
Revenue9

Cost of sales

Six months ended
28 February 2023

Six months ended
29 February 2024

1,467,350

1,598,999(725,830)(753,755)

Gross profit
Selling, general and administrative expenses

10

741,520(524,210)

845,244(594,073)

Other income
Other expenses

11
11

5,529
(3,211)

7,338(2,414)635

989

220,263
17,075

Share of profit / (loss) of associates accounted
for using the equity method
Operating profit / (loss)
Finance income(6,839)257,085
47,273(4,962)12

Finance costs
Profit / (Loss) before income taxes
Income tax expense

12230,499(65,868)

299,395(89,957)

Profit / (Loss) for the period

164,631

209,438

Owners of the Parent
Non-controlling interests

153,392
11,238

195,912
13,526

Total

164,631

209,438

Profit/ (Loss) for the period attributable to:Earnings per share
Basic (yen)13500.29638.79Diluted (yen)13499.56637.68- 17 -

Three months ended 29 February 2024
(Millions of yen)Three months ended
28 February 2023

Three months ended
29 February 2024

750,957(389,720)

788,165(385,744)

Gross profit

361,236

Selling, general and administrative expenses
Other income(259,176)
3,093

402,420(292,672)

Other expenses
Share of profit / (loss) of associates accounted(2,153)

1,675(1,343)

185

318

Operating profit / (loss)

103,185

110,398

Finance income
Finance costs

8,689(8,188)29,011(2,485)

Profit / (Loss) before income taxes

103,687

Income tax expense(28,887)

136,924(42,192)

Profit / (Loss) for the period

74,80094,732

Profit / (Loss) for the period attributable to:
Owners of the Parent

Notes
Revenue
Cost of sales

for using the equity method

68,31888,111

Non-controlling interests

6,482

6,621

Total

74,80094,732222.80222.45287.28286.79Earnings per share
Basic (yen)Diluted (yen)1313- 18 -

Interim Condensed Consolidated Statement of Comprehensive Income
Six months ended 29 February 2024
(Millions of yen)Six months ended
28 February 2023

Six months ended
29 February 2024

164,631

209,438

(6)

(0)

(6)

(0)

(17,581)

36,587(13,094)

61,6072

38(30,673)

98,232(30,680)

98,232

133,950

307,670

Owners of the Parent
Non-controlling interests

124,748
9,202

292,218
15,451

Total comprehensive income for the period

133,950

307,670

Notes
Profit for the period
Other comprehensive income / (loss), net of income tax
Items that will not be reclassified subsequently to profit or
loss
Financial assets measured at fair value through othercomprehensive income / (loss)
Total items that will not be reclassified subsequently to
profit or loss
Items that may be reclassified subsequently to profit or loss
Exchange differences on translating foreign operations
Cash flow hedges
Share of other comprehensive income / (loss) of
associates
Total items that may be reclassified subsequently to profit
or loss
Other comprehensive income / (loss), net of income tax
Total comprehensive income for the period
Attributable to:- 19 -

Three months ended 29 February 2024
(Millions of yen)Three months ended
28 February 2023

Three months ended
29 February 2024

74,80094,732

16

-

16

-

(8,372)22,083(10,221)

38,646

Share of other comprehensive income / (loss) of
associates

(17)

19

Total items that may be reclassified subsequently to
profit or loss

(18,610)60,750

Other comprehensive income / (loss), net of income tax

Notes
Profit for the period
Other comprehensive income / (loss), net of income tax
Items that will not be reclassified subsequently to
profit or loss
Financial assets measured at fair value throughother comprehensive income / (loss)
Total items that will not be reclassified subsequently to
profit or loss
Items that may be reclassified subsequently to
profit or loss
Exchange differences on translating
foreign operations
Cash flow hedges(18,593)

60,750Total comprehensive income for the period

56,206

155,482

Attributable to:
Owners of the Parent

50,767

147,728

Non-controlling interests

5,439

7,753

Total comprehensive income for the period

56,206

155,482- 20 -

(3) Interim Condensed Consolidated Statement of Changes in Equity
For the six months ended 28 February 2023
(Millions of yen)
Other components of equity

Note

As at 1 September 2022
Net changes during the period
Comprehensive income
Profit for the period
Other comprehensive
income / (loss)
Total comprehensive income /(loss)
Transactions with the ownersof the Parent
Acquisition of treasury
stock
Disposal of treasury stock
Dividends
Share-based payments
Transfer to non-financial
assetsTransfer to retained
earnings
Total transactions with theowners of the Parent
Total net changes during theperiodAs at 28 February 2023

8

Treasury Financial assets
stock, measured at fair Foreignvalue
currency
at costthrough other translation
comprehensive reserveincomeEquityattributable
Nonto owners controllingof theinterests
ParentCapitalstock

CapitalsurplusRetainedearnings

10,273

27,834

1,275,102(14,813)--

153,392

-

-

-

-

-

-

-

-

-

(6)

(17,105)(11,534)2--

153,392-(6)(17,105)(11,534)

2(28,643)

-

-

-

(2)

-

-

-

-

-

1,185
(1,073)(34,744)
-

92
-

-

-

-

-

-

-

-

-

-

-

(49,685)

-

-

61

-

(61)

-

-

112

(34,683)

89

(61)

131

100,587

Share of otherCash flow
comprehensive
hedge
income ofreserveassociates
162,407

129

Total

263,255

Total
equity1,561,652

53,7501,615,402-

153,392

11,238

164,631(28,643)(28,643)(2,036)(30,680)

124,748

9,202

133,950

-

(2)

-

(2)

-

1,278
(34,744)(1,073)(6,529)-1,278(41,274)(1,073)-(49,685)(49,685)(626)(50,312)

-

-

(61)

-

-

-

-

(49,685)-(49,747)(84,227)(7,156)(91,384)-

112

118,70989(67)(17,105)(61,220)2(78,390)

40,5202,045

42,566

10,27327,946

1,393,811(14,723)

63

83,481

101,187

132

184,864

1,602,173

55,795

1,657,969- 21 -

For the six months ended 29 February 2024
(Millions of yen)
Other components of equity

Note

As at 1 September 2023
Net changes during the period
Comprehensive income
Profit for the period
Other comprehensive
income / (loss)
Total comprehensive income /(loss)
Transactions with the ownersof the Parent
Acquisition of treasury
stock
Disposal of treasury stock
Dividends
Share-based payments
Transfer to non-financial
assets8

Treasury Financial assets
stock, measured at fair Foreignvalue
currency
at costthrough other translation
comprehensive reserveincomeEquityattributable
Nonto owners controllingof theinterests
ParentCapitalstock

CapitalsurplusRetainedearnings

10,27328,531

1,498,348(14,714)28

146,031

152,602302

298,965

1,821,405

51,955

1,873,360--

195,912

-

-

-

-

-

-

195,912

13,526

209,438

-

-

-

-

(0)

35,491

60,77638

96,30696,306

1,925

98,232--

195,912-(0)35,491

60,77638

96,306292,218

15,451

307,670

-

-

-

(0)

-

-

-

-

-

(0)

-

(0)

-

765
(207)

(50,600)
-

54
-

-

-

-

-

-

819
(50,600)(207)(6,936)-

819(57,536)(207)

Share of otherCash flow
comprehensive
hedge
income ofreserveassociates

Total

Total
equity

-

-

-

-

-

-

(55,772)-(55,772)(55,772)(673)(56,445)

Total transactions with theowners of the Parent-

557(50,600)

53--(55,772)-(55,772)(105,761)(7,609)(113,371)

Total net changes during theperiod-557

145,31153(0)35,491

5,004

38

40,534

186,457

7,842

194,299

10,27329,0891,643,660(14,660)

28

181,523

157,607340

339,500

2,007,862

59,7972,067,660

As at 29 February 2024

- 22 -

(4) Interim Condensed Consolidated Statement of Cash Flows(Millions of yen)Six months ended
28 February 2023

Six months ended
29 February 2024

Cash flows from operating activities
Profit before income taxes

230,499

299,395

Depreciation and amortization
Impairment losses

93,253783

99,751
764

Interest and dividend income
Interest expenses(17,075)
5,076(30,669)
4,938

1,762

(16,577)

(635)

(989)

Notes

Foreign exchange losses / (gains)Share of profit and loss of associates accounted for using
the equity method
Losses on disposal of property, plant and equipment

251

704

(Increase) / Decrease in trade and other receivables(Increase) / Decrease in inventories(15,680)
45,244460
42,065

Increase / (Decrease) in trade and other payables(Increase) / Decrease in other assets(106,189)
1,906(31,061)
485

Increase / (Decrease) in other liabilities
Others, net

3,576
23,45817,289(14,864)

Cash generated from operations

266,233

371,694

Interest and dividends income received
Interest paid

11,731(5,102)

24,388(4,933)

Income taxes paid
Income taxes refunded(95,407)-(90,798)
22,028Net cash generated by / (used in) operating activities

177,454322,378

Amounts deposited into bank deposits with original
maturities of three months or longer(230,140)(530,484)

Amounts withdrawn from bank deposits with original
maturities of three months or longer

80,676525,354

Payments for property, plant and equipment
Payments for intangible assets(37,629)(16,467)(30,179)(15,613)

Payments for acquisition of right-of-use assets
Payments for acquisition of investment securities(785)(346,998)(1,208)(240,492)

Proceeds from sale and redemption of investment securities
Payments for lease and guarantee deposits

79,549(2,202)

238,224(2,462)

Proceeds from collection of lease and guarantee deposits
Others, net

2,326(1,090)

3,387
(688)

Net cash generated by / (used in) investing activities(472,762)(54,162)

Cash flows from investing activities- 23 -

(Millions of yen)
Notes

Six months ended
28 February 2023

Six months ended
29 February 2024

Cash flows from financing activities
Proceeds from short-term loans payable

2,260

1,562

Repayment of short-term loans payable
Repayment of redemption of bonds(3,048)(50,000)(2,395)-(34,838)(6,306)(50,593)(6,119)

Repayments of lease liabilities
Others, net(67,858)89(73,938)
53

Net cash generated by / (used in) financing activities(159,701)(131,429)(14,676)

25,797

Net increase / (decrease) in cash and cash equivalents(469,686)

162,584

Cash and cash equivalents at the beginning of period

1,358,292

903,280

888,605

1,065,864

Dividends paid to owners of the Parent
Dividends paid to non-controlling interests

8

Effect of exchange rate changes on the balance of cash held
in foreign currencies

Cash and cash equivalents at the end of period- 24 -

Notes to the Interim Condensed Consolidated Financial Statements
1. Reporting Entity
FAST RETAILING CO., LTD. is a company incorporated in Japan. The locations of the registered headquarters and principal
offices of the Company are disclosed on the Group’s website (http://www.fastretailing.com/eng/).
The principal activities of the Company and its consolidated subsidiaries are the operations of the UNIQLO business (i.e., casualclothing retail business operating under the “UNIQLO” brand in Japan and overseas), GU business (i.e., casual clothing retailbusiness operating under the “GU” brand in Japan and overseas) and Theory business (i.e., apparel design and retail business inJapan and overseas), etc.
2. Basis of Preparation
The interim condensed consolidated financial statements have been prepared in accordance with IAS 34. The Group meets all of
the criteria of a “specified company” defined under Article 1-2 of the Consolidated Quarterly Financial Statements Rules andaccordingly, applies Article 93 of the Consolidated Quarterly Financial Statements Rules. Since the interim condensed
consolidated financial statements do not include all the information and disclosures required for consolidated financial statements,
they should be read in conjunction with the Group’s annual consolidated financial statements for the year ended 31 August 2023.
The interim condensed consolidated financial statements were approved on 11 April 2024 by Tadashi Yanai Chairman, President
and CEO, and Takeshi Okazaki, Group Executive Vice President and CFO.
3. Significant Accounting Policies
Significant Accounting Policies applied in the Interim Condensed Consolidated Financial Statement are the same as those applied in
the consolidated financial statements for the previous consolidated fiscal year, with the exception of the below newly applied standard.
From the beginning of the first half of the current consolidated fiscal year, the Group has adopted the below standard.
Standard
IAS 12(Revised)
IAS 12(Revised)Standard Name

Summary of New/Revised Content and Transitional Measures

Income Taxes

Deferred tax related to assets and liabilities arising from a single transaction.

Income Taxes

Disclosure of income taxes arising from tax laws enacted or substantially enacted to introduce
the "International Tax Reform - Pillar Two Model Rules."The application of IAS 12 (Revised) has no significant impact on the Group's Interim Condensed Consolidated Financial Statement.
4. Use of Estimates and Judgments
The preparation of the interim condensed consolidated financial statements requires management to make judgments, estimates andassumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, income andexpenses. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. The effects of the review of accounting estimates arerecognized in the accounting period in which the estimates were reviewed and in future accounting periods.
In principle, estimates and judgments that have significant effects on the amounts recognized in the interim condensed consolidated
financial statements are the same as those in the preceding fiscal year.

- 25 -

5. Segment Information(i) Description of reportable segments
The Group’s reportable segments are components for which discrete financial information is available and 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, UNIQLOInternational, 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 business(ii) Segment revenue and results
For the six months ended 28 February 2023
Reportable segments
Total

Others(Note 1)

70,235

1,466,229

1,121

-

1,467,350

13,064

153

203,295

172

16,795220,263

123,00712,465(272)

203,404173

26,922

230,499

414

140

228

783

-

-

783

UNIQLOJapan

UNIQLOInternational

GU

GlobalBrands

Revenue

495,165

755,259

145,568

Operating profit / (loss)

67,399122,678

Segment income /(loss) (i.e., profit /(loss) before income
taxes)

68,203-

Other disclosure:
Impairment losses(Millions of yen)Interim
Condensed
Adjustments
Consolidated(Note 2)
Statement ofProfit or
Loss(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 29 February 2024
Reportable segments
Total

Others(Note 1)

69,417

1,598,087

912-

1,598,999

15,344(1,735)

241,800

158

15,126

257,085

152,083

15,761(1,972)

251,632

158

47,605299,395

311

296

157

764

-

-

764

UNIQLOJapan

UNIQLOInternational

GU

GlobalBrands

Revenue

485,108

883,985

159,574

Operating profit / (loss)

77,273150,918

Segment income /(loss) (i.e., profit /(loss) before income
taxes)

85,759-Other disclosure:
Impairment losses(Millions of yen)Interim
Condensed
Adjustments
Consolidated(Note 2)
Statement ofProfit or
Loss(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.

- 26 -

For the three months ended 28 February 2023
Reportable segments
Total

Others(Note 1)

32,630750,413543-

750,957

2,433

(555)

95,189198

7,797

103,185

65,579

1,803

(773)

95,128216

8,342

103,687

353

140

227

721

-

-

721

UNIQLOJapan

UNIQLOInternational

GU

GlobalBrands

Revenue

254,216

397,362

66,204

Operating profit / (loss)

27,926

65,385

Segment income /(loss) (i.e., profit /(loss) before income
taxes)

28,519-Other disclosure:
Impairment losses(Millions of yen)Interim
Condensed
Adjustments
Consolidated(Note 2)
Statement ofProfit or
Loss(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 three months ended 29 February 2024
(Millions of yen)
Reportable segments
Total

Others(Note 1)

Adjustments(Note 2)

Interim
Condensed
Consolidated
Statement ofProfit or Loss

UNIQLOJapan

UNIQLOInternational

GU

GlobalBrands

Revenue

240,609442,667

71,71832,733787,728436-

788,165

Operating profit / (loss)

30,70573,0982,971(2,132)

104,642

61

5,694

110,398

36,60374,0563,498(2,354)

111,803

61

25,059136,924

-

82

296

163

542

-

-

542

Segment income / (loss)(i.e., profit / (loss)
before income taxes)
Other disclosure:
Impairment losses(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.

- 27 -

6. Inventories
Write-down of inventories to their net realizable values recognized in expenses is as follows:(Millions of yen)Six months ended
28 February 2023

Six months ended
29 February 2024

4,664

4,592

Write-down of inventories to net realizable value

7. Property, Plant and Equipment
The breakdown of the carrying amount of property, plant and equipment at each reporting date is as follows:(Millions of yen)
As at
31 August 2023

As at
29 February 2024

Buildings and structures

136,945

145,094

Machinery and equipment

45,30143,051

Furniture, fixtures and vehicles

28,56130,749

Land

1,927

1,927

Construction in progress

9,139

8,886

221,877

229,710Total

8. Dividends
The total amount of dividends paid was as follows:
For the six months ended 28 February 2023
Resolution
Meeting of the Board on 1 November 2022

Total dividends(Millions of yen)

Dividends per share(Yen)

Record date

Effective date

340

31 August2022

4 November
2022

Dividends per share(Yen)

Record date

Effective date

31 August

10 November

2023

2023

34,744

For the six months ended 29 February 2024
Resolution
Meeting of the Board on 6 November 2023

Total dividends(Millions of yen)
50,600165

Dividends on common stock declared subsequent to 29 February 2024 are as follows:

Total dividends (Million yen)
Dividends per share (yen)Six months ended
28 February 2023

Six months ended
29 February 2024

38,33053,674375

175

The Board has approved the dividends on common stock subsequent to 28 February 2023, and the amount is not recognized as aliability as at 29 February 2024.
Our common stock was split on a 3-to-1 basis effective 1 March 2023, so the dividends per share with a record date of 31 August,2022 are listed in the amount before the stock split. Dividends per share with a record date of 31 August, 2023 are listed in theamount after the stock split.
- 28 -

9. Revenue
The Group conducts its global clothing retail operations through both physical stores and e-commerce channels. The following is abreakdown of total revenue by major regional market operation.
Six months ended 28 February 2023
Revenue(Millions of yen)

Percentage of Total
(%)

Japan

495,165

33.7

Greater China

320,982

21.9

South Korea, Southeast Asia, India & Australia

233,570

15.9

North America

86,5205.9

Europe114,1857.8

1,250,425

85.2

GU (Note 2)

145,568

9.9

Global Brands (Note 3)

70,235

4.8

Others (Note 4)

1,121

0.1

1,467,350

100.0

UNIQLO (Note 1)

Total(Note 1) Revenue is classified by nation or region based on customer location.

The designated regions and countries 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:
Europe:United States of America, Canada
United Kingdom, France, Russia, Germany, Belgium, Spain,(Note 2) Main national and regional market:

Sweden, the Netherlands, Denmark, Italy, Poland
Japan(Note 3) Main national and regional markets:
North America, Europe, Japan(Note 4) The “Others” category includes real estate leasing operations.

- 29 -Six months ended 29 February 2024
Revenue(Millions of yen)

Percentage of Total
(%)

Japan

485,10830.3

Greater China

360,453

22.5

South Korea, Southeast Asia, India & Australia

272,818

17.1

North America

108,540

6.8

Europe142,1728.9

1,369,094

85.6

GU (Note 2)

159,574

10.0

Global Brands (Note 3)

69,417

4.3

912

0.1

1,598,999

100.0

UNIQLO (Note 1)

Others (Note 4)
Total(Note 1) Revenue is classified by nation or region based on customer location.
The designated regions and countries 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:
Europe:United States of America, Canada
United Kingdom, France, Germany, Belgium, Spain, Sweden, the(Note 2) Main national and regional market:

Netherlands, Denmark, Italy, Poland, Luxembourg
Japan(Note 3) Main national and regional markets:
North America, Europe, Greater China, Japan(Note 4) The “Others” category includes real estate leasing operations.
10. 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 2023

Six months ended
29 February 2024

Advertising and promotion

49,59654,518

Lease expenses

53,98860,118Depreciation and amortization

93,25398,939Outsourcing

30,31733,511

Salaries

180,247

214,857

Distribution

58,87264,311Others57,93567,816524,210594,073

Selling, general and administrative expenses

Total- 30 -

11. 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 2023

Six months ended
29 February 2024

Foreign exchange gains (Note)

2,908

4,392

Others

2,621

2,945

5,529

7,338

Other income

Total(Millions of yen)Six months ended
28 February 2023

Six months ended
29 February 2024

Loss on retirement of property, plant and equipment

251

704

Impairment losses

783

764

2,175

944

3,211

2,414

Other expenses

Others
Total(Note) Currency adjustments incurred in the course of operating transactions are included in “Other income”.
12. 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 2023

Six months ended
29 February 2024-

16,577

17,06930,6695

26

17,07547,273Finance income
Foreign exchange gains (Note)
Interest income
Others
Total(Millions of yen)Six months ended
28 February 2023

Six months ended
29 February 2024

Foreign exchange losses (Note)

1,762

-

Interest expenses

5,076

4,938

－

23

6,839

4,962

Finance costs

Others
Total(Note) Currency adjustments incurred in the course of non-operating transactions are included in “Finance income” and “Financecosts”.

- 31 -

13. Earnings per ShareSix months ended 28 February 2023
Equity per share attributable to ownersof the Parent (Yen)Six months ended 29 February 2024
5,224.90

Equity per share attributable to ownersof the Parent (Yen)

6,546.44

Basic earnings per share for the period (Yen)

500.29Basic earnings per share for the period (Yen)638.79Diluted earnings per share for the period(Yen)

499.56

Diluted earnings per share for the period(Yen)

637.68(Note) 1. The basis for calculation of basic earnings per share and diluted earnings per share is as follows:
Six months ended
28 February 2023

Six months ended
29 February 2024

153,392

195,912--

153,392

195,912306,605,049

306,692,119--

Increase in number of common stock (Shares)

451,198

536,005(Number of share subscription rights included in increase)(451,198)(536,005)

Basic earnings per share for the period
Profit for the period attributable to owners of the Parent (Millions of yen)
Profit not attributable to common shareholders (Millions of yen)
Profit attributable to common shareholders (Millions of yen)
Average number of common stock outstanding during the period (Shares)
Diluted earnings per share for the period
Adjustment to profit (Millions of yen)

2. Our common stock has been split on a 3-to-1 basis, effective 1 March 2023. Equity per share attributable to owners of the
Parent, basic earnings per share for the period and diluted earnings per share for the period have been calculated assuming thisstock split was conducted at the beginning of the previous fiscal year.

- 32 -

Three months ended 28 February 2023
Basic earnings per share for the period (Yen)
Diluted earnings per share for the period(Yen)

Three months ended 29 February 2024
222.80222.45

Basic earnings per share for the period (Yen)
Diluted earnings per share for the period(Yen)

287.28286.79(Note) 1. The basis for calculation of basic earnings per share and diluted earnings per share is as follows:
Three months ended
28 February 2023

Three months ended
29 February 2024

68,31888,111--

68,31888,111

306,629,942

306,706,550--

Increase in number of common stock (Shares)

481,215

526,173(Number of share subscription rights included in increase)(481,215)(526,173)

Basic earnings per share for the period
Profit for the period attributable to owners of the Parent (Millions of yen)
Profit not attributable to common shareholders (Millions of yen)
Profit attributable to common shareholders (Millions of yen)
Average number of common stock outstanding during the period (Shares)
Diluted earnings per share for the period
Adjustment to profit (Millions of yen)

2. Our common stock has been split on a 3-to-1 basis, effective 1 March 2023. Equity per share attributable to owners of the
Parent, basic earnings per share for the period and diluted earnings per share for the period have been calculated assuming
this stock split was conducted at the beginning of the previous fiscal year.

- 33 -

14. Fair value of Financial Instruments
Information about the carrying amount and fair value of financial instruments is as follows:(Millions of yen)
As at 31 August 2023

As at 29 February 2024

Carrying
amounts

Fair value

Carrying
amounts

Fair value

Bonds

440,738

438,995

463,191

462,165

Security deposits and guarantees

69,446

68,891

69,60969,236510,184

507,887

532,801

531,401

239,686

236,826

239,719

236,228

239,686

236,826

239,719

236,228

Financial assets:

Total
Financial liabilities:
Corporate bonds
Total(Note) The amount above includes the outstanding balance of bonds due within one year.
Notes concerning financial assets and financial liabilities for which carrying amount approximates fair value have been omitted.
The fair value of bonds is calculated with reference to publicly available market prices.
The fair value of security deposits and guarantees is calculated on the basis of the present value, applying the current market interest
rate.
The fair value of corporate bonds is calculated with reference to publicly available market prices.
The fair value measurements of bonds, security deposits / guarantees, and corporate bonds are categorized as level 2.
The following tables illustrate the fair value measurement hierarchy of the Group’s financial instruments. All assets and liabilities
for which fair value is measured or disclosed in the interim condensed financial statements are categorized within the fair value
hierarchy based on the following characteristics:
Level 1 - based on quoted prices (unadjusted) in active markets for identical assets or liabilities
Level 2 - based on valuation techniques for which the lowest level input that is significant to the fair value measurement isobservable, either directly or indirectly
Level 3 - based on valuation techniques for which the lowest level input that is significant to the fair value measurement isunobservable
When multiple inputs are used to measure fair value, the fair value level is determined based on the input with the lowest level
categorization in the overall fair value assessment.

- 34 -

The following tables illustrate the fair value measurement hierarchy of the Group’s financial instruments:(Millions of yen)
As at 31 August 2023

Level 1

Level 2

Level 3

Total

Financial assets measured at fair value
through other comprehensive income

-

-

189

189

Net financial assets and financial liabilities
measured at fair value through profit or loss

-

3

-

3

Net financial assets and financial liabilities
designated as hedging instruments - Fair value-

241,238-

241,238

Fair value-

241,242189

241,432(Millions of yen)

As at 29 February 2024

Level 1

Financial assets measured at fair value
through other comprehensive income
Net financial assets and financial liabilities
measured at fair value through profit or loss
Net financial assets and financial liabilities
designated as hedging instruments - Fair value
Fair value

Level 2

Level 3

Total

-

-

189

189

-

40

-

40

-

267,569-

267,569-

267,610189

267,799

For the valuation of Level 2 derivative financial instruments for which a market value is available, we use a valuation model thatuses observable data on the measurement date using inputs such as interest rates, yield curves, currency rates and volatility incomparable instruments.
Financial instruments categorized as Level 3 consist mainly of unlisted shares. The fair values of unlisted shares are measured by
the division responsible in the Group according to the Group’s accounting policy, etc., using the immediately preceding figuresavailable for each quarter.
There were no significant changes due to the purchase, sale, issuance and settlement of Level 3 financial instruments, and notransfers between Levels 1, 2 and 3.
15. Commitments for Expenditures
The Group had the following commitments at each reporting date:(Millions of yen)
As at
31 August 2023

As at
29 February 2024

Commitment for the acquisition of property, plant and equipment

16,926

11,071

Commitment for the acquisition of intangible assets

2,634

2,399

19,56013,470Total
16. Subsequent Events
Not applicable

2. Others
Dividends
The Company resolved to pay dividends from retained earnings at the meeting of the Board convened on 11 April 2024.
The total amount of dividends paid and the amount per share are stated under “Financial Section 1. Interim Condensed
Consolidated Financial Statements, Notes to the Interim Condensed Consolidated Financial Statements 8 Dividends.”- 35 -

(TRANSLATION)
INDEPENDENT ACCOUNTANT'S REVIEW REPORT

12 April 2024

To the Board of Directors of
FAST RETAILING CO., LTD.:

Deloitte Touche Tohmatsu LLC
Tokyo office
Designated Engagement Partner,
Certified Public Accountant:
Hirofumi Otani

Designated Engagement Partner,
Certified Public Accountant:
Akira Kimotsuki

Accountant's Conclusion
Pursuant to the first paragraph of Article 193-2 of the Financial Instruments and Exchange Act, we havereviewed the interim condensed consolidated financial statements of FAST RETAILING CO., LTD. and its
consolidated subsidiaries (the "Group") included in the Financial Section, namely, the interim condensed
consolidated statement of financial position as at 29 February 2024, the interim condensed consolidated
statement of profit or loss and interim condensed consolidated statement of comprehensive income for thethree-month and six-month periods then ended, and the interim condensed consolidated statement ofchanges in equity and interim condensed consolidated statement of cash flows for the six-month period thenended, and the related notes.
Based on our review, nothing has come to our attention that causes us to believe that the accompanying
interim condensed consolidated financial statements do not present fairly, in all material respects, theconsolidated financial position of the Group as at 29 February 2024, and its consolidated financial
performance for the three-month and six-month periods then ended and its consolidated cash flows for thesix-month period then ended in accordance with International Accounting Standard (“IAS”) 34 "Interim
Financial Reporting" (“IAS 34”), pursuant to Article 93 of the “Rules Governing Term, Form and Preparation ofConsolidated Quarterly Financial Statements”.
Basis for Accountant's Conclusion
We conducted our review in accordance with quarterly review standards generally accepted in Japan. Our
responsibility under those standards is further described in the Accountant's Responsibility for the Review of
the Interim Condensed Consolidated Financial Statements section of our report. We are independent of theGroup in accordance with the provisions of the Code of Professional Ethics in Japan, and we have fulfilled ourother ethical responsibilities as accountants. We believe that we have obtained the evidence to provide abasis for our review conclusion.
Responsibilities of Management and Audit & Supervisory Board Members and the Audit &Supervisory Board for the Interim Condensed Consolidated Financial Statements
Management is responsible for the preparation and fair presentation of the interim condensed consolidated
financial statements in accordance with IAS 34, and for such internal control as management determines isnecessary to enable the preparation of interim condensed consolidated financial statements that are free frommaterial misstatement, whether due to fraud or error.
In preparing the interim condensed consolidated financial statements, management is responsible for- 36 -

assessing the Group's ability to continue as a going concern, disclosing, as applicable, matters related togoing concern in accordance with paragraph 4 of IAS 1 "Presentation of Financial Statements" (“IAS 1”).
Audit & Supervisory Board members and the Audit & Supervisory Board are responsible for overseeing the
Directors' execution of duties relating to the design and operating effectiveness of the controls over theGroup's financial reporting process.
Accountant's Responsibility for the Review of the Interim Condensed Consolidated Financial
Statements
Our objective is to issue an accountant's report that includes our conclusion.
As part of a review in accordance with quarterly review standards generally accepted in Japan, we exercise
professional judgment and maintain professional skepticism throughout the review. We also:• Make inquiries, primarily of management and persons responsible for financial and accounting matters, andapply analytical and other quarterly review procedures. A review is substantially less in scope than an audit
conducted in accordance with auditing standards generally accepted in Japan.
• Conclude whether nothing has come to our attention, based on the evidence obtained, related to going
concern that causes us to believe that the interim condensed consolidated financial statements are notfairly presented, in all material respects, in accordance with paragraph 4 of IAS 1, if we conclude that amaterial uncertainty exists related to events or conditions that may cast significant doubt on the Group's
ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to
draw attention in our accountant's report to the related disclosures in the interim condensed consolidated
financial statements or, if such disclosures are inadequate, to modify our conclusion. Our conclusions are
based on the evidence obtained up to the date of our accountant's report. However, future events orconditions may cause the Group to cease to continue as a going concern.
• Evaluate whether nothing has come to our attention that causes us to believe that the overall presentationand disclosures of the interim condensed consolidated financial statements are not in accordance with IAS
34, as well as the overall presentation, structure and content of the interim condensed consolidated
financial statements, including the disclosures, and whether nothing has come to our attention that causes
us to believe that the interim condensed consolidated financial statements do not represent the underlying
transactions and events in a manner that achieves fair presentation.
• Obtain evidence regarding the financial information of the entities or business activities within the Group to
express a conclusion on the interim condensed consolidated financial statements. We are responsible forthe direction, supervision and performance of the review of the interim condensed consolidated financial
statements. We remain solely responsible for our conclusion.
We communicate with Audit & Supervisory Board members and the Audit & Supervisory Board regarding theplanned scope and timing of the review and significant findings that we identify during our review.
We also provide Audit & Supervisory Board members and the Audit & Supervisory Board with a statementthat we have complied with relevant ethical requirements regarding independence, and communicate withthem all relationships and other matters that may reasonably be thought to bear on our independence, andwhere applicable, related safeguards.
Interest Required to Be Disclosed by the Certified Public Accountants Act of Japan
Our firm and its designated engagement partners do not have any interest in the Group which is required tobe disclosed pursuant to the provisions of the Certified Public Accountants Act of Japan.
Notes to the Readers of Independent Accountant's Review Report
This is an English translation of the independent accountant's review report as required by the Financial
Instruments and Exchange Act of Japan for the conveniences of the reader.

- 37 -