Glonghui, October 13 | Goldman Sachs published a report stating that the comprehensive operating profit of Express Sales for the year ending the end of the 8th year was 381.1 billion yen, up 28% year-on-year, slightly higher than the company's guidelines and expectations. The company guided the comprehensive operating profit for the 2024 fiscal year to 450 billion yen, up 18% year on year, and slightly higher than the bank's forecast of 425 billion yen. The company stated that the profit guidelines take into account factors in the growth of overseas business. The bank raised the Group's operating profit forecast for the next two years by 6% each. According to the bank, the profit performance of Fast Sales over the past few years reflects the diversification of overseas contributions, from China to Southeast Asia to Europe and America; the focus of future growth is in Europe and America. The company's business model is to provide high-quality basic clothing at affordable prices for customers, and it is believed that it is one of the few brands with significant growth in overseas business. Goldman Sachs maintained a target price of 39,000 yen for the rapid sale of Japanese stocks, reflecting the 2024 fiscal year forecast to a price-earnings ratio of 35 times, which is 40% higher than the average of 10 global peers. It believes that the company's business model is competitive, that its growth potential is not fully reflected in stock prices, and that it maintains a “buy” rating.