Fast Retailing : FY2020 Financial Overview

FY2020 FINANCIAL OVERVIEW

Revenue

¥2.008 trillion-12.3%

(FY)

'10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20

JGAAP

IFRS

Consolidated revenue fell 12.3% year on year to ¥2.008 trillion. This large decline was due to the temporary closure of stores worldwide and many consumers staying at home in the face of COVID-19. However, sales started to recover from June primarily in Japan and Greater China.

UNIQLO International's Contribution to Revenue

42.0%

-2.9pt

Global Brands

UNIQLO International's contribution to total revenue declined by 2.9 points to 42.0%, primarily due to heavy falls in sales in the segment's large-scale markets of Greater China and South Korea.

Operating Profit

¥149.3 billion-42.0%

Business profitOperating profit

(bln yen)

300

(FY)

'10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20

JGAAP

IFRS

Declined by a sharp 42.0% year on year to ¥149.3 billion due partly to COVID-19 but also to the recording of a ¥23.0 billion impairment loss on stores, mainly at UNIQLO International.

Earnings per Share

¥885.15-44.4%

(yen) 1,800 1,500 1,200

(FY)

'10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20

JGAAP

IFRS

Our basic earnings per share (EPS) declined by 44.4% year on year to ¥885.15 in FY2020 on the back of the large decline in operating profit.

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ROE

9.5%

-8.5pt

(%)

30.0

25.0

0.0

(FY)

'10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20

JGAAP

IFRS

ROE declined 8.5 points to 9.5% following a large decline in profit with profit attributable to owners of the Parent falling 44.4% year on year.

Cash and Cash Equivalents

¥1.093 trillion

+0.6%

Free cash flow (left)Cash and cash equivalents (right)

(FY)

'10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20

JGAAP

IFRS

Cash and cash equivalents totaled ¥1.093 trillion. Free cash flow (FCF) totaled ¥188.8 billion (¥264.8 billion generated by operating activities minus ¥75.9 billion used in investing activities). Cash spent on financial activities totaled ¥183.2 billion.

*The negative FCF in FY2016 included a ¥186.5 billion investment in deposits with over three-month maturities.

Ratio of Equity Attributable to Owners of the Parent to Total Assets

39.7%

-7.0pt

(%)

90.0

75.0

60.0

45.0

39.7

30.0

%

15.0

0.0

(FY)

'10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20

JGAAP

IFRS

Decreased by 7.0 points to 39.7%. Having adopted IFRS 16 accounting standards, we recorded right-of-use assets on the balance sheet, resulting in a ¥399.9 billion increase in total assets and a decline in the ratio.

Dividend per Share

¥480

0

Dividend per share (left)Dividend payout ratio (right)

(FY)

'10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20

JGAAP

IFRS

The dividend per share stood at ¥480. While profit attributable to owners of the Parent declined sharply, we offered the same dividend as FY2019 after considering our medium-to-long term business growth potential and current cash flow situation. The dividend payout ratio was 54.2%.

*The high FY2016 dividend payout ratio was caused by yen appreciation, which resulted in the recording of minus ¥37.0 billion under finance income net of costs and a sharp decline in EPS.

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