TOKYO -- The operator of the Muji retail chain expects to earn a record net profit for a fourth consecutive year in fiscal 2018, as China's middle class turns away from lavish products and embraces the brand's minimalist-style, natural-ingredient offerings.
Ryohin Keikaku's net profit will likely rise 11% on the year to 33.3 billion yen ($312 million) for the year through February 2019, the Japanese company said Wednesday. Operating profit is forecast to grow 10% to 50 billion yen, with 29.4 billion yen likely coming from the Japanese operations, which are seen improving 3%. The overseas operations are expected to contribute 20.4 billion yen for a 27% jump.
