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Uniqlo Owner Raises Annual Profit Forecast Amid Weaker Yen

Fast Retailing Co., Asia’s largest clothing retailer, raised its forecast for annual profit as the seller of Uniqlo branded apparel benefits from a weakening yen.

Net income will probably be 91.5 billion yen ($918 million) for the year ending August, higher than its previous forecast of 87 billion yen, the Yamaguchi, Japan-based company said yesterday in a statement. Operating profit for the overseas Uniqlo business rose 40 percent for the six months ended February, while declining 4.5 percent domestically amid a price cut.