Overview

• Third-quarter operating profit reached ¥146.7 billion, below the consensus forecast of ¥153.8 billion.
• Sales in mainland China fell by roughly 5% year-on-year, driving a 3% decline in local operating profit.
• The retailer upheld its full-year operating profit target of ¥545 billion despite the quarterly shortfall.
• Fast Retailing projects the new U.S. reciprocal tariffs will cut second-half profit by about 2%–3%, according to CFO Takeshi Okazaki.
• It expects to curb tariff costs through early North America shipments and a supply chain centred on Southeast and South Asian manufacturing.