Tagged: board

Uniqlo Japan cuts prices across the board

On March 4, the Japanese retail giant Fast Retailing Group announced that its Uniqlo and GU stores in Japan will cut prices by about 9% because “due to the new crown virus pandemic, many customers are experiencing unprecedented difficulties.” In addition, Uniqlo also said that the price tag will display tax-included prices to save customers the trouble of calculation.

Uniqlo Japan cuts prices across the board

Affected by this, Fast Retailing shares fell 6.22% to HK$71.65.

Uniqlo told the Blue Whale Financial reporter that the price adjustment of related brands in Japan this time is in line with the Japanese government’s policies. For markets outside of Japan, there are currently no relevant plans.

According to the 2020 financial report of Uniqlo’s parent company Fast Retailing Group (as of August 2020), data show that the company achieved a net profit of 90.3 billion yen, down 44.4% year-on-year; revenue was 2.01 trillion yen, down 12.3% year-on-year. Although there is no deficit, this is the first full-year decline in Fast Retailing’s performance since 2017.

In this regard, Fast Retailing said that due to the impact of the new crown pneumonia epidemic, the sharp decline in offline sales has become the main reason for the sharp decline in Uniqlo’s performance.

In the first quarter of fiscal year 2021 (September to November 2020), Fast Retailing Group’s total comprehensive income in the first quarter of 2021 fell 0.6% year-on-year to 619.7 billion yen (approximately RMB 36.838 billion), with operating profit year-on-year An increase of 23% to 113 billion yen. (Approximately RMB 7 billion). According to the financial report, the market value of Fast Retailing Group exceeded 10 trillion yen for the first time thanks to the strong performance of products such as home wear and sportswear in countries such as China and Japan.

Last year, Fast Retailing’s overall performance was under greater pressure. However, the first quarter of fiscal 2021 has just improved, and Uniqlo Japan has cut prices across the board, and profits may be further pressured. Will this make Uniqlo in the epidemic worse and reduce profits? The stock price of Fast Retailing plummeted, and the capital market has already voted with its feet.

A share “welcome new”, 321!

From January to October this year, a total of 321 enterprises were listed on the main board, the small and medium-sized board, the science and technology innovation board and the growth enterprise board, with a total financing amount of 408.4 billion yuan.

IPO
On November 30, yuan duoran, deputy director of the issuance department of China Securities Regulatory Commission, yuan duoran, deputy director of the issuance department of China Securities Regulatory Commission, yuan duoran, deputy director of the issuance department of China Securities Regulatory Commission, made a policy interpretation of the recent series of measures to deepen the reform of the capital market in the second session of Xicheng District Enterprise Listing exchange activities jointly sponsored by Beijing Xicheng District People’s government, China Securities Regulatory Commission, Beijing local financial supervision and Administration Bureau and Beijing Financial Street Service Bureau.
He said that China Securities Regulatory Commission (CSRC) has made great efforts to promote the reform of registration system and provide diversified choices for enterprises to be listed. At present, some achievements have been achieved. First, it has set up diversified and inclusive listing conditions; second, it has established an examination and approval system focusing on information disclosure; third, it has established a market-oriented mechanism for underwriting new shares; fourth, it has established an open, transparent and predictable audit and registration mechanism.
According to reports, the science and technology innovation board officially opened on June 13, 2019. As of the end of October this year, a total of 121 enterprises were listed on the science and technology innovation board, with a total financing of nearly 200 billion yuan. At present, 16 unprofitable enterprises, 2 enterprises with special equity structure and 3 red chip enterprises have been listed on the board. Since the end of this year, there have been 41 enterprises registered on the “venture board” system, with a total of 41 enterprises registered and listed on the “venture board” system. As of the end of August this year, there have been 41 enterprises registered on the “growth enterprise board” system, with a total of 41 enterprises registered on the stock market.
Yuan duoran said that the CSRC maintained the normalization of new share issuance, focused on increasing the proportion of direct financing, optimized the audit process, improved the audit mechanism, shortened the audit cycle and greatly improved the audit efficiency. From January to October this year, a total of 321 enterprises were listed on the main board, the small and medium-sized board, the science and technology innovation board and the growth enterprise board, with a total financing amount of 408.4 billion yuan. In order to improve the quality of listed companies from the source, the standard operation of issuers, financial authenticity, related party transactions and competition in the same industry are the common problems in the audit of different sectors.
For the next stage to do a good job in issuing supervision, he said that he would deeply sum up the experience of the pilot projects of the science and technology innovation board and the growth enterprise market, timely study new situations, solve new problems, and continue to work hard for the reform, development and stability of the capital market.