FAST RETAILING CO., LTD., 3% Increase in Net Income, Update Record High for Fifth Consecutive Term, Dividend to Rise by 50 yen

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Thu Oct 10, 2024 3:01 pm JST Earnings

9983 FAST RETAILING CO., LTD. 【IFRS】

Earnings Report

FAST RETAILING CO., LTD. <9983> [TSE-P] announced its financial results (based on IFRS) after the market closed on October 10th (15:01). The consolidated net income for the fiscal year ending August 2024 increased by 25.6% from the previous period to 371 billion yen. For the fiscal year ending August 2025, the profit is expected to grow by 3.5% to 385 billion yen, marking the fifth consecutive term of record-high profits. This will be the fifth consecutive term of revenue and profit growth.

At the same time, the company has decided to increase the dividend this fiscal year to 450 yen, an increase of 50 yen from the previous fiscal year.

In the most recent three-month period, from June to August (4Q), the consolidated net income amounted to 59.1 billion yen, an increase of 2.5% compared to the same period last year. The operating profit margin drastically improved from 8.1% in the same period last year to 13.4%.

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Actual Results

Historical Performance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Aug, 2022	2,301,122	297,325	413,584	273,335	891.8	206.67	Oct 13, 2022	IFRS
Aug, 2023	2,766,557	381,090	437,918	296,229	966.1	290	Oct 12, 2023	IFRS
Aug, 2024	3,103,836	500,904	557,201	371,999	1,212.9	400	Oct 10, 2024	IFRS
YoY	+12.2%	+31.4%	+27.2%	+25.6%	+25.5%

Full Year Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Aug, 2024 Guidance	3,070,000	475,000	565,000	365,000	1,190.0	400	Jul 11, 2024	IFRS
Aug, 2024 Results	3,103,836	500,904	557,201	371,999	1,212.9	400	Oct 10, 2024	IFRS
Revision Rate	+1.1%	+5.5%	-1.4%	+1.9%	+1.9%

Current Period Guidance

H1 Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Sep - Feb, 2023	1,598,999	257,085	299,395	195,912	638.8	175	Apr 11, 2024	IFRS
Sep - Feb, 2024 Guidance	ー	ー	ー	ー	－	225	Oct 10, 2024	IFRS
YoY	－	－	－	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Aug, 2023	2,766,557	381,090	437,918	296,229	966.1	290	Oct 12, 2023	IFRS
Aug, 2024	3,103,836	500,904	557,201	371,999	1,212.9	400	Oct 10, 2024	IFRS
Aug, 2025 Guidance	3,400,000	530,000	585,000	385,000	1,255.1	450	Oct 10, 2024	IFRS
YoY	+9.5%	+5.8%	+5.0%	+3.5%	+3.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	623,053	50,516	78,715	57,710	188.2	8.1	Oct 12, 2023	IFRS
Sep - Nov, 2023	810,833	146,686	162,471	107,800	351.5	18.1	Jan 11, 2024	IFRS
Dec - Feb, 2023	788,166	110,399	136,924	88,112	287.3	14.0	Apr 11, 2024	IFRS
Mar - May, 2024	767,502	144,718	178,372	116,926	381.2	18.9	Jul 11, 2024	IFRS
Jun - Aug, 2024	737,335	99,101	79,434	59,161	192.9	13.4	Oct 10, 2024	IFRS
YoY	+18.3%	+96.2%	+0.9%	+2.5%	+2.5%