Separate from short-term leases or leases for which the underlying asset is of low value, the Group accounts for each lease component within the contract as a lease and recognizes a right-of-use asset and a lease liability. Out of total impairment losses amounting to 3,444 million yen, 3,148 million yen represented write downs of the carrying amounts of store assets to the recoverable amounts, primarily due to a reduction in profitability of certain stores, including flagship stores. Revenue: ¥2.1300 trillion (+14.4% year-on-year), operating profit: ¥236.2 billion (+33.9%). (Note 1) "Others" includes the real estate leasing business, etc. The Theory fashion operation reported a rise in both revenue and profit, thanks to stable growth for the Theory label in both the United States and Japan, and a favorable expansion in Theory's Japan-based PLST brand. Note that the discount rate used is the lessee's incremental borrowing rate on the date of initial application of IFRS 16. However, the impact of COVID-19 in the second half resulted in a 5.2% year-on-year decline in GU Japan same-store sales for the full year. The group forecast an overall of 3,745 stores by the end of August 2020: 817 stores (including franchise stores) at Uniqlo Japan, 1,520 stores at Uniqlo international, 445 stores at GU and 963 stores at Global Brands. ". The GU gross profit margin declined 0.7 point year-on-year in fiscal 2020 compared to the extremely strong performance in the previous year and also due to our continued rundown of excess Spring Summer inventories. In the second half, ranges featured in GU campaigns underperformed, and the large increase in the number of product types resulted in shortages of stronger-selling items. Our GU segment recorded an increase in revenue but a decline in profit in fiscal 2020, with revenue reaching 246.0 billion yen (+3.1% year-on-year) and operating profit totaling 21.8 billion yen (-22.5%year-on-year). To classify each lease, the Group comprehensively assesses whether all the risks and rewards incidental to ownership of the underlying asset will be substantially transferred or not. While all those markets were impacted by COVID-19, UNIQLO Italy managed to post a full-year profit, and the Vietnam operation, which was only launched in December 2019, turned a profit in the second half. The pre-tax discount rate calculation is based on the weighted-average cost of capital. That would result in an increase in the annual dividend from ¥350 per share in FY2017 to ¥440 in FY2018. Fast Retailing expects to achieve another record performance in the financial year ending August 31, 2020. The breakdowns of finance income and finance costs for each year are as follows: (Note) Currency adjustments incurred in the course of non-operating transactions are included in "finance income" or "finance costs". ・Full-year same-store sales rose 6.2% thanks to consistent growth in both the first and second half. Business expense ratios also improved. In fiscal 2019, revenue from the Uniqlo International segment topped one trillion yens for the first time, reaching 1.3 billion dollars. (Note 2) Leased assets are transferred to right-of-use assets due to the application of IFRS 16 as mentioned in "(6) Notes to the Consolidated Financial Statements 1. ・Operating profit expanded only slightly in the nine months to May 2018, rising 1.7% to ¥15.0 billion. The value in use is calculated based on the cash flow projections with estimates and growth rates approved by management, applying a discount rate of 15.9%. Masakatsu Mori is an External Director as stipulated in Article 2-15 of the Companies Act. The cost of the right-of-use asset is mainly composed of the initial measurement of the lease liability, initial direct costs and the amount of any prepaid lease payments. The breakdown of selling, general and administrative expenses for each year is as follows: (Note) The decrease of "Rental expenses" and the increase of "Depreciation and amortization" are due to the application of IFRS 16 as mentioned in "(6) Notes to the Consolidated Financial Statements 1. (Note 3) 612 million yen represented impairment losses on trademark of the Helmut Lang brand and 700 million yen represented impairment losses on trademark of the J Brand. On the profit front, while the cost of sales continued to rise over the period due to a weakening in internal yen exchange rates, that negative impact was successfully offset by narrower discounting rates. Leases in which the Group acts as lessor require no adjustment on transition to IFRS 16, except for subleases. Fast Retailing continues growing boosted by Uniqlo. In principal, the projected cash flows cover a five-year period, and do not use a growth rate that exceeds the long-term average market growth rate. Subleases will be accounted for in accordance with the transition provisions under IFRS 16 as stated below. (Note 1) Revenue is classified by nation or region based on customer location. (iii) Candidate for reappointment as statutory auditor. ■GU: Operating profit down on sluggish sales. 2.2) Leases in which the Group is the lessor. UNIQLO Japan reported significant rises in profit in fiscal 2018, with revenue totaling ¥864.7 billion (+6.7 % year-on-year) and operating profit totaling ¥119.0 billion (+24.1% year-on-year). Total liabilities as at 31 August 2020 were 1.4159 trillion yen, which was an increase of 388.8 billion yen relative to the end of the preceding fiscal year. ・Predict another record overall performance, stemming from revenue and profit gains at all four business segments. Profit growth picked up at UNIQLO Southeast Asia & Oceania, as the region develops into a new growth pillar for the UNIQLO International segment. The breakdowns of other income and other expenses for each year are as follows: Losses on retirement of property, plant and equipment. The Theory label enjoyed stable growth over the year, and the Japan-based PLST Theory brand also expanded favorably. The Group's impairment losses during the year ended 31 August 2020 amounted to 23,074 million yen, compared with 3,444 million yen during the year ended 31 August 2019, and are included in "other expenses" on the consolidated statement of profit or loss.

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