The operator of clothing brand Uniqlo has reported record sales and profits for the year through August.
Sales at Fast Retailing topped 3 trillion yen, or more than 20 billion dollars, for the first time. Consolidated sales for the year were up 12.2 percent in yen terms.
Net profit rose 25.6 percent to 371.9 billion yen, or a little over 2.5 billion dollars.
The company said revenue from overseas was a big factor behind the record figures.
Sales were brisk in Europe, the United States and other markets abroad. Spending by foreign visitors to Japan and the popularity of the company’s summer items also helped lift performance.
Fast Retailing Chairman, President and CEO Yanai Tadashi said: “If we keep increasing sales by 500 billion yen every year, then they should reach 5 trillion yen within several years. We’re implementing concrete plans and making preparations to attain annual sales of 10 trillion yen.”
Yanai also said investment in personnel is essential for the company’s growth. He said pay hikes should be based on fair and appropriate evaluations of employee performance, rather than raises across the board.