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Uniqlo parent Fast Retailing sees 3% rise in profit this fiscal year

China and Asia-Pacific markets help offset weak Japanese demand

A Uniqlo store in Tokyo's trendy Harajuku district. (Photo by Ken Kobayashi)

TOKYO -- Uniqlo owner Fast Retailing expects its earnings to rise by 3% to hit another record high of 175 billion yen ($1.54 billion) in the year ending next August, the company said Thursday.

The group also expects revenue to rise by a similar magnitude to 2.2 trillion yen over the same period. Fast Retailing executives were speaking after announcing a jump of 88% in net profit to a peak of 169 billion yen in the fiscal year that ended this past August from a year ago, on consolidated revenue of 2.1 trillion yen.

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