Last Updated: 2024.05.10
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Practice ZEN-IN KEIEI
2024 marks the 40th anniversary of our UNIQLO brand and the 30th year since our company was first listed. Over those thirty years, our sales have expanded to roughly 400 times their original level. Ever since our founding, Fast Retailing has always considered what is right for our society as a whole and practiced management from a long-term perspective. That is exactly why we have been able to achieve sustainable growth even when faced with multiple challenges. I am always conscious of the true substance of our management, and the performance we achieve as a result. In other words, I genuinely believe that practicing correct management and consistently promoting long-term growth is the best way to reward our shareholders' trust.
In the first half of fiscal 2024, or the six months through February 2024, the Fast Retailing Group achieved a record performance, thanks primarily to strong results from our UNIQLO operations in North America, Europe, and Southeast Asia. Understanding and empathy toward our LifeWear concept is growing not only in Asia, but also in regions with advanced clothing cultures, such as North America and Europe, and we are winning more and more fans around the world.
Today's market is a single global market and the structure of business has undergone some fundamental changes. We are now operating in an era in which customers only select the best products and services in the world, and the most competitive brands are able to win overwhelming support in every country or region. To mark such an amazing era, I want to achieve an entirely new dimension of growth that transcends conventional wisdom.
All employees should understand exactly where they are heading and always explore the best options from a global perspective and act accordingly. We have to practice these Global One, Zen-in Keiei management principles in order to create and offer the products and services that perfectly match local customer needs in each country and region. More than twenty years have passed since we first ventured into different global markets. In that time, we have nurtured many locally hired employees in the Mainland China market and other regions who are now playing an active role as managers and management candidates at each individual operation. These human resources have been trained and encouraged to lead our business on the global stage and now serve as the driving force behind Fast Retailing Group growth. Going forward, I will continue to earnestly nurture talented business executives as part of our endeavor to form a style of team management that is fueled by outstanding employees around the world.
We are in business to fulfil our corporate statement: "Changing clothes. Changing conventional wisdom. Change the world." This serves as both the font of all that we at Fast Retailing and our ultimate destination. I want to develop our company into a great organization, the likes of which no one has ever seen before, and to become the most trusted company in the world. I hope I can count on your continued support.
May, 2024
Tadashi Yanai
Chairman, President and CEO
