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 (9983 JP) Profit Targets After Q2 Results

Fast Retailing (9983) | Buying Opportunity Ahead of Q2 Results

Equity Bottom-Up

<ul>
<li>
 Strong Q2 beat: Revenue rose 14% YoY and OP jumped 33%, driven by Japan strength and solid winter sales, offsetting China’s continued weakness.</li>
<li>
 Guidance tweak: FY business profit raised to ¥540bn, though H2 expectations effectively lowered due to anticipated US tariff impact.</li>
<li>
 US expansion continues: 69 stores now open; North America accounts for 7.5% of sales, with future margin mitigation via supply chain shifts and EU/Asia growth.</li>
</ul>



 Strong Q2 beat: Revenue rose 14% YoY and OP jumped 33%, driven by Japan strength and solid winter sales, offsetting China’s continued weakness.

 Guidance tweak: FY business profit raised to ¥540bn, though H2 expectations effectively lowered due to anticipated US tariff impact.

 US expansion continues: 69 stores now open; North America accounts for 7.5% of sales, with future margin mitigation via supply chain shifts and EU/Asia growth.


Fast Retailing (9983) | Japan Delivers as Tariffs Start to Impact