In the future in the Chinese market, the Group will expand its brand portfolio and expand into new areas.

Fast Retailing Co. blamed the decrease on pandemic-related restrictions in China and the weaker yen, as well as the warmer weather in November.

Based on the core technology, Algorithmic Couture, Synflux will continue to strengthen the functional expansion of products and develop new technologies and businesses.

Separate data showed Japan’s jobless rate fell to 2.5% in November and down from 2.6% in October.

TOKYO BASE has 24 stores in China until November 16.

Under the terms of the transaction, Seven & i will transfer its outstanding Sogo & Seibu shares to a special purpose company owned by Fortress. The transaction is expected to close in the first quarter of 2023.