Japan Specialist

Mark Chadwick

Over 20 years experience in equities and asset management in Asia and Japan. Qualified CFA with experience analyzing companies as a buy-side analyst. In-depth knowledge of company fundamental analysis, corporate governance and valuations.

Equity Bottom-Up

<ul>
<li>Inditex's strong 1Q print is constructive for sector sentiment; Fast Retailing's own growth trajectory remains stronger, with eight consecutive quarters of top-line outperformance.</li>
<li>3Q results on 9 July expected to show ~18% revenue growth and ~22% operating profit growth to ¥180bn, extending Fast's lead over Inditex on growth.</li>
<li>Margins moving in the right direction, omnichannel progress underappreciated; AI integration the one area where Fast's external narrative lags the underlying investment.</li>
</ul>


Inditex's strong 1Q print is constructive for sector sentiment; Fast Retailing's own growth trajectory remains stronger, with eight consecutive quarters of top-line outperformance.
3Q results on 9 July expected to show ~18% revenue growth and ~22% operating profit growth to ¥180bn, extending Fast's lead over Inditex on growth.
Margins moving in the right direction, omnichannel progress underappreciated; AI integration the one area where Fast's external narrative lags the underlying investment.


Fast Retailing (9983) | Inditex Q1 Read-Across