Improving operations, pricing and inventory at overseas stores

「Under the new management structure, improvements to store sales floors and revisions to sales plans led to higher existing-store sales, while the impact of new store openings also contributed to higher revenue and profit. The flagship stores of the Thailand and Vietnam businesses, which opened in November 2025, performed strongly and contributed to improved brand recognition in the local markets.」

「Under the new management structure, we made progress in improving sales floors and reviewing sales plans, among other initiatives. As a result, same-store sales increased, and store openings also contributed to higher revenue and profit.」

「In addition to expanding store openings mainly in Vietnam and Malaysia, sales at existing stores began to recover from the second quarter onward, resulting in higher revenue. Although expenses associated with store openings and staff expansion were incurred ahead of revenue, the positive impact of foreign exchange movements and other factors contributed to higher profit.」

「The company stepped up store openings in Thailand, Vietnam, Malaysia and other markets, increasing sales while absorbing higher expenses associated with store openings and staff expansion, resulting in higher revenue and profit. The positive impact of foreign exchange movements also contributed.」

「The company stepped up store openings in Thailand, Malaysia, Vietnam and other Southeast Asian markets. Although store-opening expenses were incurred ahead of revenue, the positive impact of the weaker yen also contributed, resulting in higher revenue and profit.」

「③ Southeast Asia and Oceania Business Operating revenue for the cumulative third quarter of the fiscal year in the Southeast Asia and Oceania business was ¥28,845 million, up 25.1% year on year, and segment profit was ¥3,565 million, up 52.8%, resulting in higher revenue and profit. The company continued opening stores in Thailand, Malaysia, Vietnam and other markets, bringing the number of stores in the Southeast Asia and Oceania business to 100. Although expenses associated with new store openings were incurred ahead of revenue, segment profit exceeded the previous year's result.」

「③ Southeast Asia and Oceania Business Operating revenue for the cumulative first quarter of the fiscal year in the Southeast Asia and Oceania business was ¥8,575 million, up 17.9% year on year, and segment profit was ¥809 million, down 10.9%, resulting in higher revenue but lower profit. Operating revenue increased as the number of stores grew following new openings in Thailand, Malaysia, Vietnam and other markets. Revenue in Singapore struggled to grow, and segment profit fell below the previous year's result.」

「Operating revenue for the fiscal year in the Southeast Asia and Oceania business was ¥31,470 million, up 42.9% year on year, and segment profit was ¥4,160 million, up 68.1%, resulting in substantial increases in revenue and profit. During the period, products for ASEAN markets, developed independently to suit local cultures and climates, gained the support of local customers, and sales remained strong in Thailand, Malaysia and other Southeast Asian countries, resulting in higher revenue and profit.」

「Operating revenue for the cumulative third quarter of the fiscal year in the Southeast Asia and Oceania business was ¥23,052 million, up 51.0% year on year, and segment profit was ¥3,346 million, up 114.4%, resulting in higher revenue and profit. During the period, products for ASEAN markets, developed independently to suit local cultures and climates, gained the support of local customers, and sales remained strong in Thailand, Malaysia and other Southeast Asian countries, resulting in a substantial increase in profit.」

「Operating revenue for the cumulative second quarter of the fiscal year in the Southeast Asia and Oceania business was ¥15,381 million, up 62.8% year on year, and segment profit was ¥2,483 million, up 183.7%, resulting in substantial increases in revenue and profit. During the period, products for ASEAN markets, developed independently to suit local cultures and climates, gained the support of local customers, and sales remained strong in Thailand, Singapore, Malaysia and other Southeast Asian countries.」

「Sales in Thailand, Singapore, Malaysia and other markets remained strong, and the business posted higher revenue and profit, including the launch of product offerings for ASEAN markets during the period.」

「Operating revenue for the cumulative third quarter of the fiscal year in the Southeast Asia and Oceania business was ¥15,264 million, up 38.6% year on year, and segment profit was ¥1,560 million, up 38.4%. In Thailand, Malaysia and other markets, the wave of COVID-19 infections peaked, entry restrictions were gradually eased, and economic activity showed signs of recovery, resulting in higher sales, revenue and profit.」

「Operating revenue for the cumulative second quarter of the fiscal year in the Southeast Asia and Oceania business was ¥9,445 million, up 28.4% year on year, and operating profit was ¥875 million, down 1.6%. Although some regions continued to be affected by restrictions on activity and other measures arising from the spread of COVID-19 infections, restrictions on going out were eased mainly in Thailand and Malaysia and economic activity picked up, resulting in higher operating revenue, while operating profit remained at approximately the same level as in the same period of the previous year.」

「Operating revenue for the cumulative first quarter of the fiscal year in the Southeast Asia and Oceania business was ¥4,095 million, up 24.9% year on year, and operating profit was ¥303 million, down 36.8%. Although some regions continued to be affected by restrictions on activity and other measures arising from the spread of COVID-19 infections, the gradual resumption of economic activity in Thailand, Malaysia and other markets resulted in higher operating revenue, while operating profit remained positive.」

「All regions remained firm, but the impact of the spread of COVID-19 began to widen in some regions, and sales temporarily slowed in Thailand and Malaysia.」

「In Vietnam, which the company entered as a new market, the first store in Ho Chi Minh City continued to perform well.」

「Operating revenue from the Southwest Asia and Oceania business for the first quarter of the fiscal year was ¥3,279 million, down 0.4% year on year, and segment profit was ¥479 million, compared with a loss of ¥103 million in the same period of the previous year. Restraining markdown sales in each country also contributed to the increase in segment profit.」

「Although performance remained strong in Southwest Asian countries, mainly in household goods, many stores were closed and affected by lockdowns resulting from the spread of COVID-19 in the latter half of March. In Australia, bushfires affected operations in Sydney and Canberra in January, and after the fires were extinguished, customer traffic declined due to the spread of COVID-19.」

「Operating revenue from the Southwest Asia and Oceania business was ¥4,981 million for the fiscal year, and the segment loss was ¥396 million.」

「In Singapore and Australia, the segment recorded a loss due to higher logistics and other costs and front-loaded expenses related to new store openings and renovations.」

「Operating revenue from the Southwest Asia and Oceania business for the first nine months of the fiscal year was ¥12,456 million, up 7.3% year on year, while the segment loss was ¥161 million, compared with segment profit of ¥324 million in the same period of the previous year. In Singapore, sales of men's and women's cut-and-sew products increased significantly following price revisions, but personnel and logistics costs increased. In Australia, expenses including advertising costs related to renovations were front-loaded.」

「Operating revenue from the Southwest Asia and Oceania business for the first six months of the fiscal year was ¥8,470 million, up 11.9% year on year, while the segment loss was ¥45 million, compared with segment profit of ¥167 million in the same period of the previous year, resulting in higher revenue but lower profit. Sales of apparel and miscellaneous goods, including Yak Wool and Australian Down, were strong in Australia. In Singapore, household goods struggled, but apparel and miscellaneous goods performed well, particularly the French Linen Series, which recorded sales growth.」

「Operating revenue from the Southwest Asia and Oceania business for the first quarter of the fiscal year was ¥3,929 million, up 10.2% year on year, and segment profit was ¥23 million, down 57.4%, resulting in higher revenue but lower profit. Performance in Malaysia remained strong, particularly for apparel and miscellaneous goods. In Australia, new stores contributed to higher sales, while sales of household goods were weak in Singapore.」

「Operating revenue from the Southwest Asia and Oceania business was ¥16,589 million for the fiscal year, up 20.8% year on year, and segment profit was ¥513 million, up 299.9%. Sales remained strong in Singapore and Thailand, particularly for apparel and miscellaneous goods. In Australia, sales increased as existing stores performed well and 2 new stores were opened.」

「Operating revenue from the Southwest Asia and Oceania business for the first nine months of the fiscal year was ¥11,612 million, up 21.0% year on year, and segment profit was ¥324 million, compared with a loss of ¥71 million in the same period of the previous year. In Singapore, sales struggled due to shortages of apparel and miscellaneous goods, although sales of large furniture and other products were strong. In Australia, existing-store sales were strong, particularly sales of menswear.」

「Operating revenue from the Southwest Asia and Oceania business for the first six months of the fiscal year was ¥7,567 million, up 25.6% year on year, and segment profit was ¥167 million, compared with a loss of ¥166 million in the same period of the previous year, resulting in higher revenue and profit.」

「All stores continued to secure stable earnings. In particular, sales of apparel and miscellaneous goods and household goods in Australia remained strong.」

「Revenue increased across all regions, but expenses increased due to the costs of opening the Singapore flagship store, resulting in higher selling, general and administrative expenses. In Thailand, consumer sentiment weakened, but signs of recovery began to emerge.」

「Revenue increased across all regions, including Singapore and Thailand, but in Singapore, logistics costs increased due to higher inventory for the opening of a flagship store, while in Thailand, pre-opening costs increased, resulting in higher selling, general and administrative expenses.」

「All stores continued to secure stable earnings. Further store openings are planned in each country from the first quarter of the fiscal year onward, and performance is expected to remain solid.」

「New and renovated stores in each country continued to perform well, and growth and profitability stabilized. The 2 stores opened in India, a new market, also performed above plan, supporting expectations for future expansion.」

「Operating revenue from the Southwest Asia and Oceania regional business for the first six months of the fiscal year was ¥4,774 million, up 21.7% year on year, and segment profit was ¥52 million, compared with a loss of ¥68 million in the same period of the previous year. The number of MUJI stores at the end of the reporting period was 48, an increase of 7 stores from the same period of the previous year. At all 4 subsidiaries, existing-store sales exceeded the previous fiscal year's results by more than 10% and remained strong. A licensee also began operations in Saudi Arabia.」

「In Singapore, sales increased significantly at all stores as customer traffic rose. Profitability was supported by controlling gross margin, including by maintaining prices mainly for spring and summer products. In Thailand, sales remained strong as reviews of operating procedures and inventory management proved effective. In particular, timely inventory availability for household goods substantially reduced stockouts and contributed to performance.」