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Onward seen sewing up 54% profit gain next fiscal year

Japanese apparel company aims to streamline logistics, boost online sales

TOKYO -- Japanese apparel company Onward Holdings is expected to post a 54% year-on-year rise in group operating profit to about 10 billion yen ($91.8 million) next fiscal year, which ends in February 2019, as it strives to make logistics and procurement more efficient and increase online sales.

Group sales are likely to increase 2% to 245 billion yen, buoyed by mainstay women's clothing brands sold at department stores. Online channels, meanwhile, are seen contributing 12% of sales, up from this fiscal year's projected 9%.

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