Fast Retailing, the parent company of Uniqlo, reported annual operating profit of 743.13 billion yen for the fiscal year ended August 31. Profit rose 32% year over year, surpassing analyst expectations. It was the company's fifth consecutive year of record operating profit.
Strong performances in North America and Europe helped drive growth. For the first time, the regions overtook Greater China as Fast Retailing's largest overseas market.
Revenue reached 3.96 trillion yen, up 16.6% from a year earlier. Fast Retailing forecast operating profit of 830 billion yen for the next fiscal year.
Founder Tadashi Yanai reiterated the company's goal of reaching 10 trillion yen in annual sales and becoming the world's top clothing retailer.