Japan Specialist

Mark Chadwick

Over 20 years experience in equities and asset management in Asia and Japan. Qualified CFA with experience analyzing companies as a buy-side analyst. In-depth knowledge of company fundamental analysis, corporate governance and valuations.

Fast Retailing: On to the Next (Bigger) Stage

March 2024 Nikkei 225 Rebal - Socionext, Disco, and a Consumer Goods Stock to ADD and ¥1trn To Trade

Fast Retailing (9983) | Exceptional Quarter

Fast Retailing (9983) | Is China Still Recovering?

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Equity Bottom-Up

<ul>
<li>
Fast Retail Full-Year Expectations: Anticipate strong FY results, but potential FY8/24 guidance headwinds include weather impacts and yen weakness.</li>
<li>
Management Guidance Risks: The key risk would seem to be China outlook; Japan/Europe's heatwave impact on fall season; potential for gross margin pressures.</li>
<li>
Valuation: Despite growth prospects, concerns over cyclicality and valuation relative to peers persist.</li>
</ul>



Fast Retail Full-Year Expectations: Anticipate strong FY results, but potential FY8/24 guidance headwinds include weather impacts and yen weakness.

Management Guidance Risks: The key risk would seem to be China outlook; Japan/Europe's heatwave impact on fall season; potential for gross margin pressures.

Valuation: Despite growth prospects, concerns over cyclicality and valuation relative to peers persist.


FAST RETAIL (9983) | 3 Reasons Why Guidance Could Miss