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©Ryohin Keikaku Co., Ltd. All Rights Reserved. October 14, 2026 Satoshi Shimizu, President and Representative Director Kenta Hochido, Executive Officer of Corporate Planning Office Financial Results Briefing for FY26/8
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. Contents 2 Financial results summary for FY26/8 Business plan for FY27/8 01 02 3 Year Rolling Plan03
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. 3 Executive Summary: Global growth is progressing ahead of expectations. Channeling the enhanced earning power achieved ahead of schedule into the next phase of growth investment. <Progression of results> Operating profit surpassed 100 billion yen for the first time. Operating revenue and profits at all levels reached record highs, supported in part by a weaker yen. Gross profit margin continued to improve, driven by product cost reductions achieved through strengthening in- house production and restrained discounts. SG&A/revenue ratio also gradually improved as sales grew, resulting in an operating profit margin of over 11%. All regions achieved profitability. A structure capable of generating profit globally across key regions has been established. <Outlook> For FY27/8, both operating revenue and operating profit are expected to reach record highs for the fourth consecutive fiscal year. The Eight Growth Drivers have largely completed the processes envisioned under the current mid-term plan. We will advance the next mid-term plan ahead of schedule to build the foundation for global growth. We are gradually shifting from optimization to challenge phase— including resuming investment in human resource to support future growth. FY26/8 Highlights & Outlook
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. • Operating revenue increased by 17.7% YoY to 923.5 billion yen, driven by an increase in the number of stores in Japan and overseas, as well as significant growth in overseas business sales. • Gross profit margin improved by 1.4pp YoY to 52.8%, driven by product cost reductions achieved through strengthening in- house production and an improvement in discount rate. • SG&A/revenue ratio improved by 0.3pp YoY to 41.6%, as sales growth outpaced the increase in SG&A. • Operating profit increased by 40.1% YoY to 103.4 billion yen, exceeding 100 billion yen for the first time. Operating profit margin improved by 1.8pp YoY to 11.2%. • Net income attributable to owners of parent increased by 50.3% YoY to 76.4 billion yen, including one-time items such as foreign exchange gains and gains on sale of cross-shareholdings. 4 Operating revenue and profits at all levels reached record highs. Operating profit exceeded 100 billion yen for the first time. Consolidated Financial Results for FY26/8 Full Year (12 months) FY25/8 (12 months) FY26/8 (12 months) FY26/8 (12 months) FY26/8 (12 months) [billion yen] Results % of operating revenue Results YoY % of operating revenue Difference in % of operating revenue YoY Difference in % of operating revenue YoY Revised plan in July Initial plan Operating revenue 784.6 ー 923.5 117.7% ー ー Japan Mainland China 907.0 860.0 Operating gross profit 402.9 51.4% 487.6 121.0% 52.8% +1.4% +1.3% +1.1% ー ー SG&A 329.1 41.9% 384.2 116.7% 41.6% -0.3% +0.5% -0.5% ー ー Operating profit 73.8 9.4% 103.4 140.1% 11.2% +1.8% +0.7% +1.6% 98.0 79.0 Ordinary profit 72.3 9.2% 104.6 144.8% 11.3% +2.1% 99.0 76.0 Net income attributable to owners of parent 50.8 6.5% 76.4 150.3% 8.3% +1.8% 67.0 53.0 * % of Japan is calculated based on non-consolidated results and includes global SG&A. * % of Mainland China refers to local accounting basis.
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. 496.1 581.4 661.6 784.6 923.5 0 200 400 600 800 1,000 FY22/8 FY23/8 FY24/8 FY25/8 FY26/8 Japan business Overseas business 5 Operating revenue expanded 1.8 times and operating profit more than tripled compared to FY22/8, driven by the growing contribution of overseas business. Trends of Consolidated Financial Results (Full Year) ■ Operating revenue (billion yen)(billion yen) (billion yen) ■ Operating profit and operating profit margin ■ Net income attributable to owners of parent/ ROE Up 86% compared to FY22/8 (Average growth rate: 16.8%) Up 216% compared to FY22/8 (Average growth rate: 33.3%) Up 211% compared to FY22/8 (Average growth rate: 32.8%) 32.7 33.1 56.1 73.8 103.4 6.6% 5.7% 8.5% 9.4% 11.2% 0 20 40 60 80 100 FY22/8 FY23/8 FY24/8 FY25/8 FY26/8 24.5 22.0 41.5 50.8 76.4 10.8% 8.7% 14.9% 16.3% 20.6% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 0 20 40 60 80 100 FY22/8 FY23/8 FY24/8 FY25/8 FY26/8 45% 55% 38% 62%
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. 6 • Advertising expenses: Despite continued strategic promotional investment, advertising expenses/revenue ratio remained flat YoY at 1.9%. • Logistics expenses: Logistics expenses/revenue ratio improved by 0.3pp YoY to 5.2%, driven by optimization of delivery frequency and improvement in loading rate in Japan business. • Personnel expenses: Personnel expenses/revenue ratio increased by only 0.1pp YoY on a consolidated basis, as improvement in H2 offset the impact of ahigher personnel expenses/revenue ratio in H1 in Japan business. • Rent expenses on land and buildings: Growth in sales at suburban stores with lower rent levels in Japan business drove a 0.2pp improvement YoY to 7.1% in rent expenses/revenue ratio. • Depreciation: Depreciation/revenue ratio increased by 0.1pp YoY to 4.1% due to IT-related investments and new store openings. • Others: Although expenses related to strengthening in-house production and IT-related expenses increased, consolidated others expense/revenue ratio remained flat YoY. SG&A/revenue ratio improved by 0.3pp YoY to 41.6%, driven by sales growth. Consolidated SG&A Expenses for FY26/8 Full Year (12 months) FY25/8 (12 months) FY26/8 (12 months) FY26/8 (12 months) [billion yen] Results % of operating revenue Results YoY % of operating revenue Difference in % of operating revenue YoY Difference in % of operating revenue YoY Operating revenue 784.6 ー 923.5 117.7% ー ー Japan Mainland China Advertising expenses 14.5 1.9% 17.3 119.2% 1.9% +0.0% -0.1% +0.3% Logistics expenses 43.4 5.5% 48.2 111.1% 5.2% -0.3% -0.5% -0.3% Personnel expenses 113.2 14.4% 134.1 118.4% 14.5% +0.1% +0.5% -0.1% Rent expenses on land and buildings 56.8 7.3% 65.4 115.0% 7.1% -0.2% -0.1% -0.1% Depreciation 31.8 4.1% 38.0 119.4% 4.1% +0.1% +0.2% +0.1% Others 69.0 8.8% 81.0 117.3% 8.8% -0.0% +0.5% -0.4% SG&A 329.1 41.9% 384.2 116.7% 41.6% -0.3% +0.5% -0.5% * % of Japan is calculated based on non-consolidated results and includes global SG&A. * % of Mainland China refers to local accounting basis.
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. 7 • Operating revenue increased by 138.9 billion yen YoY , with increase of 40.8 billion yen in Japan business and 98.1 billion yen in overseas business. • Operating profit increased by 29.5 billion yen YoY , including increase of 11.2 billion yen in Japan business and 23.6 billionyen from overseas business, while global SG&A increased by 5.4 billion yen. • Foreign exchange impact provided a positive YoY contribution of 4.8 billion yen. Excluding this foreign exchange impact, overseas business achieved an operating profit increase of 18.8 billion yen Yo Y. • Global SG&A amounted to 39.1 billion yen, driven by the enhancement of production management system and IT related cost. Both revenue and profit increased in each segment. Overseas business, in particular, saw significant growth. Segment Results for FY26/8 Full Year (12 months) FY25/8 (12 months) FY26/8 (12 months) Operating revenue Operating profit Operating profit margin Operating revenue Operating profit Operating profit margin [billion yen] Results Results Results Results YoY Results YoY Results YoY Consolidated 784.6 73.8 9.4% 923.5 117.7% 103.4 140.1% 11.2% +1.8% Japan business 470.1 52.1 11.1% 510.9 108.7% 63.3 121.6% 12.4% +1.3% Overseas business total 314.4 55.3 17.6% 412.6 131.2% 78.9 142.8% 19.1% +1.5% East Asia business 222.2 42.7 19.3% 293.8 132.2% 61.6 144.2% 21.0% +1.7% Southeast Asia and Oceania business 50.1 5.5 11.1% 66.5 132.8% 9.1 164.1% 13.8% +2.6% Europe and North America business 42.1 6.9 16.4% 52.2 124.1% 8.0 117.0% 15.5% -0.9% Global SG&A ー -33.7 -4.3% － － -39.1 116.2% -4.2% +0.1% * Figures are rounded down to the nearest 100 million yen; therefore, totals and differences may not add up.
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. 8 Factors behind YoY changes in consolidated operating profit (Full Year) Japan business and East Asia business drove growth. Foreign exchange impact also provided a positive contribution. (billion yen) 73.8 4.8 -5.5 103.4 2025年8月期 上期実績 国内事業 海外事業 為替影響* グローバル販管費 2026年8月期 上期実績 0 20 40 60 80 100 120 FY25/8 result Japan business Overseas business Impact of foreign exchange* Global SG&A FY26/8 result Increases in expenses related to the enhancement of production management system and IT related cost <Segment breakdown> East Asia business: +18.9 Southeast Asia and Oceania business: +3.6 Europe and North America business: +1.1 +18.8 * Figures are rounded down to the nearest 100 million yen; therefore, totals and differences may not add up. +11.2 +4.8 Gain from internal product supply transaction: 4.7 billion yen Gain from internal product supply transaction: 3.3 billion yen YoY impact of foreign exchange Results Consolidated exchange rate +6.2 FX for internal product supply -1.4 Total +4.8 *Key exchange rate (FY25/8→FY26/8） USD 1 = JPY 148.84 → JPY 156.69 RMB 1 = JPY 20.64 → JPY 22.64 -5.4
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. • Operating revenue increased despite the impact of the temporary EC suspension in H1. Japan business recovered in the 2H, while overseas business continued to perform strongly, resulting in a 20% increase in revenue. • Gross profit margin improved by 1.6pp YoY to 53.2% in H2, driven by continued product cost reductions through strengthening in-house production and improvement in discount rate. • SG&A expense/revenue ratio improved by 1.1pp YoY to 41.1% in H2, as sales growth drove SG&A efficiency improvement in Japan business. • Operating profit increased by more than 50% YoY , driven by significant improvement in both gross profit margin and SG&A expense/revenue ratio. 9 H2 performance surpassed H1, with stronger revenue and profit growth. Operating profit margin reached 12%. Consolidated Financial Results for FY26/8 H2 (6 months) FY26/8 H1 (6 months) FY26/8 H2 (6 months) FY26/8 H2 (6 months) [billion yen] Results YoY % of operating revenue Difference in % of operating revenue YoY Results YoY % of operating revenue Difference in % of operating revenue YoY Difference in % of operating revenue YoY Operating revenue 438.5 114.8% ー ー 485.0 120.5% ー ー Japan Mainland China Operating gross profit 229.7 117.7% 52.4% +1.3% 257.9 124.1% 53.2% +1.6% +1.1% +0.3% SG&A 184.7 116.1% 42.1% +0.5% 199.5 117.4% 41.1% -1.1% -0.3% -1.0% Operating profit 45.0 124.8% 10.3% +0.8% 58.3 154.7% 12.0% +2.7% +1.4% +1.3% Ordinary profit 46.8 135.5% 10.7% +1.6% 57.7 153.3% 11.9% +2.5% Net income attributable to owners of parent 34.2 134.5% 7.8% +1.1% 42.1 166.2% 8.7% +2.4% * % of Japan is calculated based on non-consolidated results and includes global SG&A. * % of Mainland China refers to local accounting basis.
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. 10 • Advertising expenses: Despite strengthening marketing activities, advertising/revenue ratio was kept under control. • Logistics expenses: Logistics expenses/revenue ratio improved in Japan business, driven by optimization of delivery frequency and improvement in loading rate. • Personnel expenses: Personnel expenses/revenue ratio increased in H1, but improved in H2 as sales recovered and personnel cost management was tightened. • Rent expenses on land and buildings: Rent expenses/revenue ratio improved in Japan business as sales at stores with fixed rent increased. • Others: Despite outsourcing costs and IT-related expenses increased, the other expense/revenue ratio improved due to sales growth. SG&A expense/revenue ratio improved by 1.1pp YoY to 41.1% in H2, driven by sales growth. Consolidated SG&A Expenses for FY26/8 H2 (6 months) FY26/8 H1 (6 months) FY26/8 H2 (6 months) FY26/8 H2 (6 months) [billion yen] Results YoY % of operating revenue Difference in % of operating revenue YoY Results YoY % of operating revenue Difference in % of operating revenue YoY Difference in % of operating revenue YoY Operating revenue 438.5 114.8% ー ー 485.0 120.5% ー ー Japan Mainland China Advertising expenses 8.0 122.9% 1.8% +0.1% 9.3 116.2% 1.9% -0.1% -0.1% -0.1% Logistics expenses 22.8 108.2% 5.2% -0.3% 25.4 113.9% 5.2% -0.3% -0.5% -0.4% Personnel expenses 64.3 119.0% 14.7% +0.5% 69.7 117.9% 14.4% -0.3% -0.1% +0.0% Rent expenses on land and buildings 31.4 112.7% 7.2% -0.1% 33.9 117.0% 7.0% -0.2% -0.2% +0.1% Depreciation 17.9 115.9% 4.1% +0.0% 20.1 122.8% 4.2% +0.1% +0.2% +0.0% Others 40.0 118.1% 9.1% +0.2% 40.9 116.6% 8.4% -0.3% +0.3% -0.6% SG&A 184.7 116.1% 42.1% +0.5% 199.5 117.4% 41.1% -1.1% -0.3% -1.0% * Figures are rounded down to the nearest 100 million yen; therefore, totals and differences may not add up. * % of Japan is calculated based on non-consolidated results and includes global SG&A. * % of Mainland China refers to local accounting basis.
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. • Operating revenue increased by 20.3% YoY to 232.8 billion yen, with both Japan business and overseas business posting growth. Overseas business in particular grew by approximately 30%. • Gross profit margin improved by 1.8pp YoY to 53.6%, driven by product cost reduction through strengthening in-house production and improvement in discount rate. • SG&A/revenue ratio improved by 0.4pp YoY to 43.9%, reflecting improvement in SG&A expense/revenue ratio in overseas business, despite deterioration in Japan business due to additional investment. • Operating profit increased by 56.7% YoY to 22.6 billion yen. Operating profit margin improved by 2.3pp YoY to 9.7%. • Net income attributable to owners of parent increased by 146.3% YoY to 17.8 billion yen, reflecting a net operating loss carryforward (NOLs) in U.S. business and the impact of the tax incentive related to wage increases. 11 Revenue grew alongside significant improvement in both gross profit margin and SG&A expense/revenue ratio, driving strong profit growth at all levels. Consolidated Financial Results for FY26/8 Q4 (3 months) FY25/8 Q4 (3 months) FY26/8 Q4 (3 months) FY26/8 Q4 (3 months) [billion yen] Results % of operating revenue Results YoY % of operating revenue Difference in % of operating revenue YoY Difference in % of operating revenue YoY Operating revenue 193.5 ー 232.8 120.3% ー ー Japan Mainland China Operating gross profit 100.2 51.8% 124.8 124.6% 53.6% +1.8% +0.8% +0.6% SG&A 85.7 44.3% 102.2 119.2% 43.9% -0.4% +0.8% +0.0% Operating profit 14.4 7.5% 22.6 156.7% 9.7% +2.3% -0.0% +0.6% Ordinary profit 14.4 7.5% 22.2 153.9% 9.6% +2.1% Net income attributable to owners of parent 7.2 3.7% 17.8 246.3% 7.7% +3.9% * % of Japan is calculated based on non-consolidated results and includes global SG&A. * % of Mainland China refers to local accounting basis.
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. 12 • Operating revenue increased, driven by new store openings and seasonal promotional campaigns such as “MUJI Week”, “MUJI Good Price Festival” and “Good Point Week”. • Full-year LFL store + EC sales were 102.4% YoY . EC sales fell below previous year due to the suspension in H1, but store sales performed strongly, and total sales exceeded previous year. Sales of all product categories — Apparel, Household goods, and Food — exceeded previous year. • Operating profit increased. Gross profit margin improved, and operating profit margin improved by 1.3pp YoY to 12.4%. Revenue increased and operating profit grew by approximately 20%, driven by improved gross profit margin. Results of Japan Business (Segment) FY25/8 (12 months) FY26/8 (12 months) Operating revenue Operating profit Operating profit margin Operating revenue Operating profit Operating profit margin [billion yen] Results Results Results Results YoY Results YoY Results YoY Japan business 470.1 52.1 11.1% 510.9 108.7% 63.3 121.6% 12.4% +1.3% LFL Directly Managed Stores + Online Store, YoY All Directly Managed Stores + Online Store, YoY Total Number of customers Sales per customer Total Number of customers Sales per customerApparel Household goods Food Q1 100.3% 105.0% 95.6% 106.4% 100.0% 100.3% 109.4% 108.2% 101.2% Q2 99.6% 99.1% 100.0% 99.7% 97.2% 102.5% 106.7% 103.3% 103.3% Q3 105.3% 106.5% 104.6% 105.5% 100.8% 104.5% 110.0% 104.9% 104.8% Q4 103.5% 103.1% 104.6% 101.2% 98.3% 105.4% 107.7% 102.0% 105.5% Full year 102.4% 103.8% 101.2% 103.4% 99.2% 103.2% 108.6% 104.6% 103.8%
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. 13 • Operating revenue increased. Full-year LFL store + EC sales were 115.6% YoY , led by sales growth in Household goods and Food. • Operating profit increased. Gross profit margin improved, and SG&A expense/revenue ratio also declined alongside sales growth, operating profit margin improved to 21.0%. • Mainland China business posted LFL store + EC sales of 116.3% YoY . In addition to strong performance in Household goods and Food driven by local merchandising, marketing initiatives, small-scale renovations also contributed to revenue and profit growth. • Taiwan business saw increased revenue and profit, driven by strong sales in Health and Beauty and Food, supported by expanded product lineup through strengthened local merchandising, as well as an improvement in discount rate. • Hong Kong business saw strong sales in Household goods and Food. SG&A expense/revenue ratio improved significantly, driven primarily by logistics structure improvement through warehouse relocation, contributing to revenue and profit growth. • Korea business saw an increase in customer traffic driven by strengthened marketing. Sales grew by more than 40%, with both stores and EC performing strongly. SG&A efficiency improvement also contributed to revenue and profit growth. Household goods and Food drove sales growth, with revenue increasing by more than 30%. Operating profit margin improved to 21.0%. Results of East Asia Business (Segment) LFL Directly Managed Stores + Online Store, YoY All Directly Managed Stores + Online Store, YoY Q1 Q2 Q3 Q4 Full year Q1 Q2 Q3 Q4 Full year East Asia business 118.4% 108.1% 117.8% 117.6% 115.6% 124.1% 116.4% 126.7% 125.3% 123.2% Mainland China business 118.3% 107.9% 116.4% 120.6% 116.3% 125.1% 117.1% 125.4% 127.7% 124.0% [billion yen] FY25/8 (12 months) FY26/8 (12 months) Operating revenue Operating profit Operating profit margin Operating revenue Operating profit Operating profit margin Results Results Results Results YoY Results YoY Results YoY East Asia business 222.2 42.7 19.3% 293.8 132.2% 61.6 144.2% 21.0% +1.7% Mainland China business 139.8 190.7 136.4%
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. 14 • Operating revenue grew to 132.8% YoY , driven by store network expansion centered on flagship store openings in Thailand businessand Vietnam business. • LFL store + EC sales were 108.7% YoY . Under a strengthened management structure, we accelerated improvements to the sales floor and focused on refining sales plans. • Operating profit grew to 164.1% YoY . Gross profit margin improved through restrained discounts and price reviews in certain markets, and SG&A efficiency improved alongside sales growth, resulting in an improved operating profit margin. • LFL store + EC sales posted double-digit YoY growth, particularly in Malaysia business, Vietnam business, and Australia business. • For Singapore business, while LFL store + EC sales decreased YoY due to price revisions and restrained discounts, profitability improved. In August 2026, LFL store + EC sales exceeded previous year. LFL store sales grew under a strengthened management structure. Combined with contributions from new store openings, revenue and profit grew significantly. Results of Southeast Asia and Oceania Business (Segment) FY25/8 (12 months) FY26/8 (12 months) [billion yen] Operating revenue Operating profit Operating profit margin Operating revenue Operating profit Operating profit margin Results Results Results Results YoY Results YoY Results YoY Southeast Asia and Oceania business 50.1 5.5 11.1% 66.5 132.8% 9.1 164.1% 13.8% +2.6% LFL Directly Managed Stores + Online Store, YoY All Directly Managed Stores + Online Store, YoY Q1 Q2 Q3 Q4 Full year Q1 Q2 Q3 Q4 Full year Southeast Asia and Oceania business 109.4% 107.9% 109.4% 107.2% 108.7% 129.8% 126.7% 119.0% 116.2% 122.5%
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. 15 • Operating revenue increased, driven by LFL store + EC sales growth and the resumption of store openings in North America busi ness. LFL store + EC sales were 111.8% YoY . • Operating profit increased to 117.0% YoY . However, SG&A/revenue ratio deteriorated due to upfront investment related to the resumption of store openings in North America business and flagship store opening scheduled in Europe business in FY27/8, resulting in an operati ng profit margin of 15.5%, down 0.9pp YoY . • Europe business posted double-digit LFL store + EC sales growth YoY through improved sales planning accuracy and expanded lineup. Revenue and profit increased despite upfront flagship store opening investment. • North America business grew, driven by strong sales in Household goods and Food, supported by expanded lineup. EC sales grew significantly, partly as a rebound from the EC warehouse relocation in FY25/8. Revenue and profit increased despite higher costs from logistics cen ter relocation and resumption of store openings. Tariff refunds in the U.S. business also contributed. Despite upfront store opening expenses, both Europe business and North America business posted revenue and profit growth driven by LFL store sales growth. Results of Europe and North America Business (Segment) FY25/8 (12 months) FY26/8 (12 months) [billion yen] Operating revenue Operating profit Operating profit margin Operating revenue Operating profit Operating profit margin Results Results Results Results YoY Results YoY Results YoY Europe and North America business 42.1 6.9 16.4% 52.2 124.1% 8.0 117.0% 15.5% -0.9% LFL Directly Managed Stores + Online Store, YoY All Directly Managed Stores + Online Store, YoY Q1 Q2 Q3 Q4 Full year Q1 Q2 Q3 Q4 Full year Europe and North America business 111.2% 109.6% 113.0% 113.2% 111.8% 112.3% 111.6% 116.3% 119.5% 115.0%
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. Topics: Sales by product category in overseas business LFL store + EC sales across all three overseas segments exceeded previous year in all product categories. YoY Sales by Segment and Product Category (LFL store + EC) Sales mix by product category East Asia business Household goods, led by Health and Beauty, and Food drove growth Southeast Asia and Oceania business Apparel grew through revision of inventory plans. Food also performed strongly. Europe and North America business Household goods sales performed strongly through expanded lineup. Food also grew. Food East Asia business 45% 45% Apparel 45% Household goods 45% Food 10% Southeast Asia and Oceania business 48% 47% Apparel 48% Household goods 47% Food 4% Europe and North America business 49% 45% Apparel 49% Household goods 45% Food 4% Apparel Household goods Food In East Asia business, Household goods are on par with Apparel. In Southeast Asia and Oceania business and Europe and North America business, Apparel and Household goods are the primary sales drivers. FY26/8 result FY26/8 result 100% 110% 120% 130% Apparel Household goodsTotal Apparel Household Food Total Apparel Household Food Total Apparel Household Food Total 10% 4% 4% 16
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. 17 • For Japan business, the number of stores increased by 40 to 723 as we opened profitable stores mainly in suburbs. • For overseas business, the number of stores increased by 34 to 763, driven by expansion primarily in East Asia business and Southeast Asia and Oceania business. • For East Asia business, the number of stores increased by 22 to 579, through openings in mainland China business, Taiwan business, and Korea business. • For mainland China business, the number of stores increased by 11 to 433, as scrap and build strategy continued alongside opening new stores. • For Southeast Asia and Oceania business, the number of stores increased by 11 to 135. New stores were opened primarily in the Philippines business, Vietnam business, Malaysia business. • For Europe and North America business, the number of stores increased by 1 to 49. We resumed store openings in North America business. The number of stores increased by 74 to 1,486, driven by new store openings in both Japan and overseas. Number of MUJI Stores (Store) As of August 31, 2025 Number of newly opened stores Number of stores closed Net increase As of August 31, 2026 Japan business 683 50 10 40 723 Overseas business 729 71 37 34 763 East Asia business 557 55 33 22 579 Mainland China business 422 42 31 11 433 Southeast Asia and Oceania business 124 13 2 11 135 Europe and North America business 48 3 2 1 49 Total 1,412 121 47 74 1,486
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. 18 • Total assets increased by 109.5 billion yen from end of FY25/8 to 672.2 billion yen. Cash and deposits increased driven by profit accumulation. • Inventories increased by 35.6 billion yen from end of FY25/8 to 205.6 billion yen, reflecting a build-up of staple Household goods items in Japan business and foreign exchange impact on overseas inventories. The inventory turnover ratio for the most recent four quarters stood at 2.32 times per year, broadly in line with the previous 12 months; we plan to optimize inventory levels through order adjustments going forward. • Liabilities increased by 26.2 billion yen from end of FY25/8 to 253.0 billion yen, primarily due to an increase in current liabilities. • Current liabilities increased by 15.3 billion yen from end of FY25/8 to 150.0 billion yen, as increases in accounts payable due to business expansion and income taxes payable driven by higher profits outweighed the repayment of borrowings. • Net assets increased by 83.3 billion yen from end of FY25/8 to 419.2 billion yen, primarily due to profit accumulation, alongwith an increase in fair value of foreign exchange contracts driven by the weaker yen. Total assets increased by 109.5 billion yen from end of FY25/8. Led by increases in cash and deposits and inventories. Key Items on Balance Sheet [Consolidated] [billion yen] As of August 31, 2025 As of August 31, 2026 Results YoY change Current liabilities 134.6 150.0 +15.3 Non-current liabilities 92.1 102.9 +10.8 Total liabilities 226.8 253.0 +26.2 Shareholders' equity 308.8 369.4 +60.5 Others 27.1 49.8 +22.7 Net assets 335.9 419.2 +83.3 Total liabilities and net assets 562.7 672.2 +109.5 [billion yen] As of August 31, 2025 As of August 31, 2026 Results YoY change Cash and deposits 134.9 168.6 +33.7 Inventories 169.9 205.6 +35.6 Other current assets 62.1 73.1 +11.0 Property, Plant and Equipment 109.9 130.5 +20.6 Intangible assets 42.2 38.8 -3.3 Other non-current assets 43.5 55.3 +11.7 Total assets 562.7 672.2 +109.5 * Figures are rounded down to the nearest 100 million yen; therefore, totals and differences may not add up.
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. 19 [billion yen] FY25/8 FY26/8 Results Results YoY change Operating CF 73.3 99.3 +26.0 Investing CF -40.9 -30.1 +10.8 Financing CF -22.1 -43.7 -21.6 Cash and deposit balance at beginning of the period 125.5 135.3 +9.8 Cash and deposit balance at end of the period 135.3 169.1 +33.8 Free cash flow (Operating CF + Investing CF) 32.4 69.2 +36.8 Store 24.5 21.1 -3.4 Software 15.0 9.6 -5.3 Others 1.4 2.5 +1.1 Total CAPEX 40.9 33.3 -7.6 • Operating CF provided 99.3 billion yen, an increase of 26.0 billion yen YoY , driven by profit growth and the recording of depreciation. • Investing CF was an outflow of 30.1 billion yen, reflecting expenditures for store investment and IT investment, partially offset by proceeds from the sale of cross- shareholdings. • Free cash flow came to 69.2 billion yen, an increase of 36.8 billion yen YoY . • Financing CF was an outflow of 43.7 billion yen, primarily due to dividend payments and repayment of lease obligations (rental payments for overseas stores). • Capital investment totaled 33.3 billion yen, of which store investment accounted for 21.1 billion yen and IT investment for 9.6 billion yen. Operating CF was 99.3 billion yen. Free cash flow (FCF) of 69.2 billion yen was generated. Cash Flow and Capital Investment * Figures are rounded down to the nearest 100 million yen; therefore, totals and differences may not add up.
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. 20 Setting Scope 3 Reduction Targets for the First Time Culture & Engagement Survey Conducted; Alignment with Corporate Philosophy rose to 97% A Culture & Engagement Survey was conducted across the entire Group in May–June 2026. All three key indicators surpassed the previous survey, with alignment with the corporate philosophy rising to 97%. Reflection sessions were held within each organization based on the results. Going forward, each organization will identify specific challenges and work to develop and implement concrete solutions. Continuing to advance "ESG as Core Business." [ESG] Recent initiatives highlights We have established reduction targets for Scope 3 emissions, which account for 96% of Ryohin Keikaku Group's total greenhouse gas (GHG) emissions. [Target] By FY40/8, reduce GHG emissions from raw material and component production and product manufacturing (Scope 3, Category 1) by 30% per unit of net sales compared to FY21/8 levels. Announced at the "ESG Briefing 2026" (held on September 10, 2026) Ryohin Keikaku entered into a comprehensive collaboration agreement with the City of Yokohama in May 2021 and has since engaged in co-creation activities focused on themes such as disaster preparedness and resource circulation. This time, we have designed the staff uniforms for the Yokohama City information hub at "GREEN×EXPO 2027," to be held in Yokohama in 2027, with the designs announced in August. Designing Staff Uniforms for the Yokohama City Hub at "GREEN×EXPO 2027" The uniforms partially use recycled polyester derived from clothing collected within Yokohama City. The products are also designed for ease of recycling through the use of mono-material construction. E: Response to climate change S: Co-creation with local communities G: Building an organization where people can thrive — body and mind Indicator FY23/8 FY24/8 FY26/8 Alignment with corporate philosophy 76% 78% 97% Ability to contribute to society through work 78% 83% 90% Sense of attachment to the company 64% 72% 77%
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. Contents 21 Financial results summary for FY26/8 Business plan for FY27/8 01 02 3 Year Rolling Plan03
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. 22 • Operating revenue is expected to exceed 1 trillion yen, driven by LFL store sales growth and new store openings in Japan business and overseas business . • Despite continued pressure from less favorable hedged exchange rates resulting from yen depreciation and higher raw material costs, gross profit margin is expected to improve YoY, reflecting cost reductions through in-house production and a higher overseas business sales mix. • Upfront investment for overseas business will increase, while improvement of cost efficiency in Japan business is expected to keep the SG&A expense/revenue ratio broadly unchanged YoY. As a result, operating profit margin is projected at 11.2%. • Net income attributable to owners of parent is expected to decrease slightly due to the absence of one-time gains recorded in FY26/8, but is planned to increase excluding one-time factors. Operating revenue to exceed 1 trillion yen for the first time, with double-digit operating profit growth while continuing growth investments. FY27/8 Consolidated Full-Year Plan FY26/8 (12 months) FY27/8 (12 months) [billion yen] Results % of Operating Revenue Plan YoY % of Operating Revenue Difference in % of operating revenue YoY Operating Revenue 923.5 ー 1,014.0 109.8% ー ー Operating Gross Profit 487.6 52.8% 536.0 109.9% 52.9% +0.1% SG&A Expenses 384.2 41.6% 422.0 109.8% 41.6% ±0.0% Operating Profit 103.4 11.2% 114.0 110.2% 11.2% ±0.0% Ordinary Profit 104.6 11.3% 111.0 106.0% 10.9% -0.4% Net income attributable to owners of parent 76.4 8.3% 73.0 95.5% 7.2% -1.1% ROA 17.0% ー 15.8% ー ー ー ROE 20.6% ー 16.7% ー ー ー
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. FY26/8 (12 months) FY27/8 (12 months) Operating Revenue Operating Profit Operating Profit Margin Operating Revenue Operating Profit Operating Profit Margin [billion yen] Results Results Results Plan YoY Plan YoY Plan Difference Consolidated Total 923.5 103.4 11.2% 1,014.0 109.8% 114.0 110.2% 11.2% ±0.0% Japan Business 510.9 63.3 12.4% 548.5 107.3% 69.3 109.3% 12.6% +0.2% Overseas Business 412.6 78.9 19.1% 465.4 112.8% 88.2 111.7% 19.0% -0.2% East Asia Business 293.8 61.6 21.0% 331.0 112.7% 71.5 115.9% 21.6% +0.6% Southeast Asia and Oceania Business 66.5 9.1 13.8% 75.5 113.5% 11.0 120.0% 14.6% +0.8% Europe & North America Business 52.2 8.0 15.5% 58.8 112.4% 5.6 69.2% 9.5% -6.0% Global SG&A － -39.1 -4.2% － － -43.7 111.5% -4.3% -0.1% 23 • Japan business: Profit is expected to increase, driven by stable sales growth and an improved SG&A expense/revenue ratio. • East Asia business: Revenue and profit are expected to increase through new store openings and growth in LFL store + EC sales . • Southeast Asia and Oceania business: Revenue and profit are expected to increase, driven by new store openings and LFL store sales growth and improved profitability. • Europe and North America business: Revenue is expected to increase through new store openings and LFL store sales growth, while profit is expected to decline due to upfront investment in flagship and other new stores. • Global SG&A: Expected to increase due to higher IT-related expenses and costs associated with in-house production. Despite lower profit in Europe and North America business due to upfront investment in store openings, consolidated revenue and profit are expected to increase. FY27/8 Plan by Segment * Figures are rounded down to the nearest 100 million yen; therefore, totals and differences may not add up.
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. 1,034 59 78 14 ▲45 1,140 FY26/8 result Japan business Overseas business Impact of foreign exchange* Global SG&A FY27/8 plan 0 200 400 600 800 1,000 1,200 24 *Key exchange rate assumptions (FY26/8 full-year actual rates applied) USD 1 = JPY 156.69 RMB 1 = JPY 22.64 Breakdown of YoY Change in Consolidated Operating Profit Profit is expected to increase in both Japan business and overseas business. Foreign exchange impact was limited. [billion yen] 120 100 80 60 40 20 103.4 5.9 7.8 1.4 -4.5 114.0 Gain from internal product supply transaction: 3.3 billion yen Gain from internal product supply transaction: 4.7 billion yen <Segment breakdown> East Asia business: +9.8 Southeast Asia and Oceania business: +1.8 Europe and North America business: -2.4 * Figures are rounded down to the nearest 100 million yen; therefore, totals and differences may not add up. YoY impact of foreign exchange Forecast Consolidated exchange rate ±0 FX for internal product supply +1.4 Total +1.4
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. Year-on-Year Sales Plan for LFL Stores + EC 25 • LFL store + EC sales for Japan business are planned at 104% YoY , incorporating a rebound in EC sales following the suspensionin October-December 2025. • LFL store + EC sales for East Asia business are expected to be 107% YoY , including 106% YoY in mainland China business. Positive YoY growth is expected across other regions as well, with Korea business projected to achieve double-digit growth. • LFL store + EC sales for Southeast Asia and Oceania business are expected to be 110% YoY , with positive YoY growth expected across all regions. • LFL store + EC sales for Europe and North America business are expected to be 106% YoY , with growth in both Europe business and North America business. LFL store + EC sales are expected to continue growing across all business segments. FY26/8 (result) FY27/8 (plan) September 2026 (result) Sales YoY , LFL stores +EC Sales YoY , LFL stores +EC Sales YoY , LFL stores +EC Japan business 102.4% 104% 111.6% East Asia business 115.6% 107% 124.6% Mainland China business 116.3% 106% 126.6% Southeast Asia and Oceania business 108.7% 110% 107.6% Europe and North America business 111.8% 106% 118.4%
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. Segment Plan for Number of Stores 26 • Japan business will expand its store network in line with local trade areas, opening stores not only in large suburban storesbut also in small-format stores in urban areas. • Overseas business will open stores across all regions, serving as the primary growth engine accounting for the majority of the net increase. • East Asia business will open stores across all regions. • Mainland China business will continue scrap and build, driving both a net increase in store count and improvement in profitability. • Southeast Asia and Oceania business will expand store openings, centered on Philippines business and Vietnam business. • Europe and North America business will strengthen brand presence by resuming store openings in Paris and London, and accelerating store openings in North America. Centering on Japan business and East Asia business, the total number of stores as of the end of August 2027 is expected to reach 1,584. (stores) Number of stores as of Aug. 31, 2026 Number of stores to be newly opened Number of stores to be closed Net increase Number of stores as of Aug. 31, 2027 Japan business 723 50 13 37 760 Overseas business 763 90 29 61 824 East Asia business 579 67 25 42 621 Mainland China business 433 47 20 27 460 Southeast Asia and Oceania business 135 13 2 11 146 Europe and North America business 49 10 2 8 57 Total 1,486 140 42 98 1,584
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. 27 • Store investment is planned at 27.0 billion yen. Japan business is expected to invest 9.9 billion yen for new store openings and renovation of existing stores. Overseas business is expected to invest 17.0 billion yen, driven by an increase in new store openings in East Asia business and Europe and North America business. • Software investment is planned at 12.7 billion yen, allocated for supply chain infrastructure development, improvement of in-store operational efficiency and expansion of e-commerce and membership base. • Other investments are planned at 2.2 billion yen, primarily for logistics center related purposes. Capital expenditures are planned at 42.0 billion yen, up 26% YoY, primarily driven by increased store investments in overseas business. Capital Investment Plan FY26/8 FY27/8 (billion yen) Results Plan Difference YoY Store investment in Japan 8.5 9.9 +1.3 115.8% Store investment overseas 12.5 17.0 +4.5 136.5% Total store investment 21.1 27.0 +5.9 128.0% Software investment 9.6 12.7 +3.1 132.2% Other investments 2.5 2.2 -0.3 86.9% Total 33.3 42.0 +8.6 126.1% * Figures are rounded down to the nearest 100 million yen; therefore, totals and differences may not add up.
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. 28 • The annual dividend per share for FY26/8 is planned to be 38 yen (interim: 16 yen, year-end: 22 yen), an increase of 13 yen from FY25/8. • The annual dividend per share for FY27/8 is planned to be 38 yen, the same as FY26/8 (interim and year-end: 19 yen each). • We will continue to generate cash centered on growth investment and provide stable dividends with a target payout ratio of 30%. Shareholder Returns – Dividend Plan For FY26/8, an annual dividend of 38 yen per share is planned, an increase of 13 yen from FY25/8. Revised upward by 6 yen from the previous forecast. (Yen) 10 11 16 19 10 14 22 19 20 25 38 38 25.5% 26.1% 26.4% 27.6% 0% 10% 20% 30% 0 10 20 30 40 24/8期（実績） 25/8期（実績） 26/8期（予定） 27/8期（予定） 年間1株当たり配当金と連結配当性向の推移 1株当たり配当金（期末） 1株当たり配当金（中間） 連結配当性向 Historical trend in dividend per share and consolidated dividend payout ratio (after stock split basis) FY24/8 FY25/8 FY26/8 (plan) FY27/8 (plan) Dividend per share (year-end） Dividend per share (Interim） Consolidated dividend payout ratio * A two-for-one stock split of shares in common stock was carried out on September 1, 2025. The above graph is presented on a post-stock split basis.
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. Operating CF CAPEX （store) CAPEX (IT/ infrastructure) FCF 1 Dividend Approx. 40% Approx. 20% Approx. 60％ 100 ％ Growth investment 3 三か年のキャッシュアロケーション 2 29 We will invest approximately 60% of operating CF into business growth, while providing stable dividends in line with profit and FCF growth. Financial Policy ② To support global growth, we will continue investing in store expansion and infrastructure, such as IT systems and logistics that underpin our growing business. Strengthen our ability to generate operating CF through improvements in profitability and asset efficiency, placing high importance on ROE management. ③ From FCF, we aim to provide shareholder returns with a dividend payout ratio of 30%, equivalent to approximately 20% of operating CF. ① We aim to strengthen our ability to generate operating CF by improving profitability and asset efficiency. Continuously allocate resources to investment opportunities while measuring ROI and execute the 8 Growth Drivers. Secure cash reserves aligned with business scale (equivalent to 2 months of sales), and provide stable shareholder returns as we grow. Cash allocation policy Rationale for cash allocation policy
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. Contents 30 Financial results summary for FY26/8 Business plan for FY27/8 01 02 3 Year Rolling Plan03
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. 31 to enable every employee to spend time sharing what matters most with their loved ones, and to lead rich, fulfilling lives, both physically and mentally to create a world where simplicity is not overshadowed by luxury, but rather, where the intelligence and sensibility inherent in that simplicity are a source of pride Customers Shareholders “MUJI Dream” and “Ryohin Keikaku Dream” Two Dreams
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. 32 As at November, 2024 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026 FY2027 Three-year average annual growth rate [100 million yen] Result Result Result Result Plan YoY (difference) Plan YoY (difference) Plan YoY (difference) Operating revenue 4,536 4,961 5,814 6,616 7,340 111% 8,000 109% 8,800 110% 10.0% Operating profit 424 327 331 561 550 98% 680 121% 790 116% 12.1% Operating profit margin 9.4% 6.6% 5.7% 8.5% 7.5% (1.0%) 8.5% 1.0% 9.0% 0.5% - ROA (Ratio of ordinary profit to total assets) 12.3% 9.4% 8.5% 11.6% 10.1% (1.5%) 11.7% 1.6% 12.5% 0.8% - ROE (Ratio of net income to equity) 17.3% 10.8% 8.7% 14.9% 12.4% (2.5%) 12.9% 0.5% 13.8% 0.9% - · For FY2027, expects operating revenue of 880.0billion yen, operating profit of 79.0 billion yen, and operating profit margin of 9.0%. ·We expect a three-year average annual growth rate of operating revenue of 10.0%, operating profit of 12.1% respectively. ·The number of stores at the end of FY2027 is assumed to be 1,650. Net store growth is assumed to be 60 stores/year in Japan and overseas respectively (Mainland China 30 stores/year). While maintaining the pace of store openings in Japan, we will accelerate store openings in Southeast Asia. In mainland China, we will promote a scrap-and-build approach. ·Existing store growth (including EC) is assumed to be 102% per year in average (103% in Japan, 101% in mainland China). Aiming for an average annual growth rate of 10% in operating revenue Three-year rolling plan (FY2025 to FY2027)
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. 33 Growth and profitability improvements in Japan business and East Asia business drove the early achievement of the original three-year plan. 3 Year Rolling Plan Progress Plan announced in November 2024 FY25/8 FY26/8 FY27/8 Plan Plan Plan Operating revenue 734.0 800.0 880.0 Operating profit 55.0 68.0 79.0 Operating profit margin 7.5% 8.5% 9.0% Plan announced in October 2025 FY25/8 FY26/8 FY27/8 FY28/8 Results Plan Plan Plan Operating revenue 784.6 860.0 950.0 1,080 Operating profit 73.8 79.0 89.0 108.0 Operating profit margin 9.4% 9.2% 9.4% 10.0% FY25/8, FY26/8 results + FY27/8 plan FY25/8 FY26/8 FY27/8 Results Results Plan Operating revenue 784.6 923.5 1,014.0 Operating profit 73.8 103.4 114.0 Operating profit margin 9.4% 11.2% 11.2% • Progression of the Plan [billion yen] [billion yen] [billion yen]
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. 34 As at November, 2024 Taking on the Challenge of Global Growth Store Expansion Strengthening OMO* Reforms of Production/SCM Strengthening Product Development System Strengthening Key Product Categories Marketing Strategy ESG/Public Interest and People-centered ManagementIT Supporting 01 04 02 03 05 ・Complete and evolve the format of large stores ・Openings of flagship stores ・Develop category-specific stores ・Expand Japan-planning products globally "80% fulfillment against Japan's product lineup’’ ・Increase in locally developed products ・Setting of a globally unified product development group "H&B, Apparel as our key products" ・Select localized products overseas ・Omni-channelization of customer experience ・Inventory Centralization "A challenge to ultimate convenience" ・Increase in customers through product marketing: “new customers” and “returning customers” ・Identifying latent needs through CRM ・Full-fledged challenge of in-house production "Expansion to six overseas production bases" ・Maintaining quality and low costs ・Increasing efficiency through the global introduction of product planning systems ・Improving store operations efficiency ・Make ESG the core of our business ・A platformer of localization and circulation of resources ・Working with a number of stakeholders * Online merges with Offline Eight Growth Drivers for Global Growth 02 0301
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. 35 Overall progress ‒ The three-year plan across the Eight Growth Drivers, including store expansion, visual merchandising (VMD), product lineup improvement, and cost reduction, was substantially completed within 2 years. Management execution has accelerated significantly. Profitability ‒ Product cost reduction initiatives have progressed faster than planned, driving improvements in gross profit margin. In addition, the depreciation of the yen has provided a tailwind to earnings. ‒ While SG&A expense/revenue ratio has improved on the back of sales growth, enhancing cost efficiency across both Japan business and global SG&A remains a key challenge. Business Performance by Segment ‒ Japan business: Sales expanded primarily due to higher customer traffic, driven by accelerated store openings, larger-format stores, and the increase of product lineup. A proven business model was localized and deployed across overseas business. ‒ East Asia business: Ongoing localization efforts across products, stores, e-commerce, and marketing resulted in stronger-than- expected growth in both sales and customer traffic. ‒ Southeast Asia and Oceania business: The business foundation was strengthened through the expansion of the store network and enhanced operational capabilities. ‒ Europe and North America business: The business model validation has been completed, with the business now transitioning into a full-scale investment for future growth. FY25/8 - FY27/8, revenue, operating profit, and operating profit margin are all progressing ahead of the initial plan. 3 Year Rolling Plan Progress
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. 36 Sales and customer traffic grew through store network expansion, larger store formats, and the increase of product lineup. Progress of Japan business Store Network Expansion and Larger Store Formats The increase of product lineup centered on Household goods and Food Sales growth was driven mainly by increased customer traffic. Sales per store also reached a record high. Contributed to new customer acquisition and higher visit frequencyExpanded both the store network and sales floor area Sales Floor Area per Store Up 34% vs. 5 years ago (955 m² → 1,285 m²) Innerwear Food Housewares Health and Beauty All categories 2.0x 2.4x 0 500 1000 1500 0 200 400 600 800 21/8 22/8 23/8 24/8 25/8 26/8 # of stores in Japan Up 59% vs. 5 years ago (456 stores → 723 stores) Changes in # of stores in Japan and sales floor area per store Sales growth over the past 5 years 2.6x 2.1x Sales Mix of the Above Categories 55% (+12pp vs. 5 years ago) (stores) (m²) # of store Sales floor area 1.7x
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. 37 Progress of East Asia business The growth model established in Japan was localized and rolled out across markets, driving growth in both sales and customer traffic. Expand Customer Touchpoints • In mainland China business, store sales grew through larger store formats and small-scale renovations are carried out at 40-50 stores annually, resulting in 10% increase in sales. • In Korea business, 10 or more store openings are planned from FY27/8. • EC sales grew due to the expansion of online channels. Localization of product lineup • Increase the sales mix of Household goods and Food, led by strong growth in Health and Beauty, while strengthening local merchandising capabilities. Local product ratio (Mainland China business approx. 80% in Household goods and 90% in Food) (Korea business 70% in Food). • Improve merchandise planning accuracy. Strengthen Brand Penetration and Expand the Customer Base • Strengthen branding through integrated marketing, including social media and digital advertising. • Expand the customer base through brand marketing initiatives • Promotions for loyalty program members and CRM activities. • Membership in mainland China business has exceeded 50 million. Business Foundation: Advancing the localization of management through the utilization of local talent to build a foundation for sustainable growth. Store openings/ EC Product Marketing
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. 38 With the optimization phase complete, we are entering a new phase of bold yet disciplined challenges, supported by investments for global growth. 1. Accelerate strategic investments, primarily in Europe and North America business, to support store expansion and strengthen business foundations in overseas. Continue to generate stable revenue and profits in Japan business and Asia businesses. Start to reallocate resources to build India business and the Middle East business into future profit-generating pillars. 2. Strengthen global strategy team and promote a “Globe-Turning” Perspective” to enable simultaneous growth around the world. 3. Realize the benefits of productivity initiatives and continue improving profit margins. 4. Based on growth impact and challenge-to-reward potential, the key priorities for the next medium-term plan are: - Expansion in Europe and North America business - Productivity Improvement - Talent development and utilization Business Strategy Going Forward
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. 39 • Based on FY26/8 results, we plan to achieve a CAGR of 12.0% in operating revenue and 14.7% in operating profit. • Through FY28/8, operating profit margin is expected to remain in 11% range, reflecting upfront investments in Europe and North America business as well as negative impact from less favorable hedged exchange rates resulting from yen depreciation. In FY29/8, we expect profit margins to improve, driven by contributions from Europe and North America business and an increase in overseas sales mix to more than 50%. • In Japan business, we aim to achieve stable growth and improve profitability through productivity improvement. • In overseas business, we will accelerate growth through store expansion, with a focus on Europe and North America business, with growth driven by both an increase in the number of stores and higher sales per store. • 3-year average YoY LFL stores + EC is expected to be 102% in Japan business and 105% in overseas business (including 105% in mainland China business). • The total number of stores is expected to be 1,850 by the end of FY29/8. We plan annual net increase of 45 stores in Japan busin ess and 75 stores overseas business, including 30 stores in mainland China business. • Although ROE is expected to decline in FY27/8 due to the absence of one- off gains recorded in FY26/8, we expect it to improve through FY29/8, supported by profit growth. Aim to achieve operating revenue of approx. 1.3 trillion yen, operating profit of over 150 billion yen and an operating profit margin of 12% in FY29/8. 3 Year Rolling Plan（FY27/8-29/8） FY26/8 FY27/8 FY28/8 FY29/8 3 years CAGR [billion yen] Results YoY Plan YoY Plan YoY Plan YoY Plan Operating revenue 923.5 117.7% 1,014.0 109.8% 1,139.0 112.3% 1,298.0 114.0% 12.0% Operating profit 103.4 140.1% 114.0 110.2% 128.0 112.3% 156.0 121.9% 14.7% Operating profit margin 11.2% +1.8% 11.2% ±0.0% 11.2% ±0.0% 12.0% +0.8% － Net income attributable to owners of parent 76.4 150.3% 73.0 95.5% 82.0 112.3% 101.0 123.2% 9.8% ROA 17.0% ー 15.8% ー 16.1% ー 17.7% ー ー ROE 20.6% ー 16.7% ー 16.7% ー 18.1% ー ー • Note: Exchange rates are based on actual FY2026 full-year rates • Note: figures in the 3 year rolling plan exclude the impact of the new lease accounting standard.
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. 40 0 500 1,000 1,500 FY25/8 784.6 billion yen Overseas 40% Japan 60% FY27/8 1,014.0 billion yen Overseas 46% Japan 54% FY29/8 Overseas 52% Japan 48% Sales by region While maintaining growth in Japan business, overseas business sales to exceed 50% of consolidated revenue by FY29/8. 1,298.0 billion yen (billion yen) Japan business East Asia business Southeast Asia & Oceania business India business & Middle East business Europe & North America business *Image Japan business East Asia business Japan business East Asia business Japan business East Asia business Southeast Asia & Oceania business Southeast Asia & Oceania business Europe & North America business Southeast Asia & Oceania India business & Middle East business Europe & North America business Europe & North America business
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. 0 200 400 600 5% 10% 15% 20% Operating revenue (billion yen) → 25/8 27/8 29/8 25/8 27/8 29/8 25/8 27/8 29/8 27/8 29/8 Regional growth and profitability trends and outlook 41 • Transition image of; FY25/8 → FY27/8 → FY29/8 • Bubble size shows the amount of operating profit Japan business | Stable growth and improved productivity East Asia business | Growth while maintaining high profitability Europe and North America business | Return to growth and profitability following upfront Investment Southeast Asia and Oceania business | Expand scale and improve profitability India business and Middle East business | Build a foundation for profit generation *Zoom up Sales to Exceed 15 billion yen 25/8 East Asia business to sustain high-profit growth. Japan business to improve productivity while maintaining stable growth. Europe and North America business to recover profitability from FY29/8. 25/8 27/8 29/8 Operating profit margin
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. 42 Strategic update towards FY29/8 8 Growth Drivers for Global Growth Taking on the Challenge of Global Growth Marketing Strategy • Enhance integrated marketing. • Grow the potential customer base through establishment of creative committee and branding initiatives. • Expand seasonal promotions and cross-selling. Strengthen OMO*² • Rebuild the e-commerce channel and drive global online growth. • Integrate inventory across all online and offline channels. IT-Driven Support • Further enhance IT systems for product planning. • Launch regional IT development initiatives. • Establish AI and offshore development and R&D hubs. ESG as a Core Business Strategy • Embed ESG into the core of MUJI business. • Strengthen organization and talent development capabilities globally that embody Public Interest and People- Centered Management. Enhancement of Product Development Capabilities ・ Drive product development globally . ・ Expand Apparel planning capabilities across global regions. ・ 100% assortment coverage of Household goods. ・ 10% Food sales mix in every region. Store Expansion • Store opening in key cities across Europe and North America business. • Resuming store opening in India business and Middle East business. • Developing a new store VI*¹ and accelerating store renovations. Deployment of Global Operation • Shifting from Japan-led to globally developed operating models, and establishing global leadership in the regions leading each function. 02 04 01 03 05 07 08 SCM transformation/ Improving operational efficiency • Embed Gain/ Reduce/ Leverage circulation management (examples of initiatives) Gain: Maximize sales capabilities through enhanced production and sales planning. Reduce: Optimize costs and improve operational productivity. Leverage: Activate investment execution and strengthen ROI management. 06 *1 Visual Identity (VI) *2 Online Merges with Offline (OMO)
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. Store expansion01 North America business｜ Store expansion in New York metropolitan area India business and Middle East business ｜Expand into future growth markets Europe business｜Rebuild MUJI in Europe through flagship stores Open 7 new stores in FY27/8, expanding to 26 store network. Build a dominant presence in the New York metropolitan area to enhance brand awareness and strengthen the business foundation. Future store locations New Jersey Manhattan Brooklyn Queens 仮イメージ Rivoli, Paris (Opening scheduled for Mar. 2027) Approx. 2,000 ㎡ of sales floor space Oxford Street, London (Opening scheduled for Mar. 2027) Approx. 1,200 ㎡ of sales floor space Expansion and renovation of MUJI Palladium, India 43 Expansion and renovation of Dubai Hills Mall (Oct. 2026) 8 Growth Drivers for Global Growth
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. 44 8 Growth Drivers for Global Growth Marketing/ EC IT Logistics ・・・ Japan business Mainland China business Other East Asia business Southeast Asia & Oceania business Europe & North America business Transfer selected headquarters functions for marketing/ EC, IT, and logistics overseas in advance. Image Product offerings tailored to regional demands Deployment of Global Operation • Shifting from Japan-led to globally developed operating models, and establishing global leadership in the regions leading each function. 02 Enhancement of Product Development Capabilities ・ Drive product development globally . ・ Expand Apparel planning capabilities across global regions. ・ 100% assortment coverage of Household goods. ・ 10% Food sales mix in every region. 03 Mainland China business: Health and Beauty Matrix: Regional and functional leader
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. 45 • チャネル拡張 • Integrated Store and EC Inventory • Logistic systems integration • Channel expansion Korea business and Vietnam business Rollout to other regions from FY28/8 onward 8 Growth Drivers for Global Growth Strengthen OMO*² • Rebuild the e-commerce channel and drive global online growth. • Integrate inventory across all online and offline channels. 04 Marketing Strategy • Enhance integrated marketing. • Grow the potential customer base through establishment of creative committee and branding initiatives. • Expand seasonal promotions and cross-selling. 05 Establish business model in Korea business and Vietnam business, then expand to additional regions Market Impact Europe & North America business Southeast Asia & Oceania business Other East Asia business Japan business Mainland China business Embedding the brand philosophy Marketing tailored to regional brand maturity *2 Online Merges with Offline (OMO)
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. 46 STEP 1 STEP 2 STEP 3 STEP 4 <Next step> 8 Growth Drivers for Global Growth IT-Driven Support • Further enhance IT systems for product planning. • Launch regional IT development initiatives. • Establish AI and offshore development and R&D hubs. ESG as a Core Business Strategy • Embed ESG into the core of MUJI business. • Strengthen organization and talent development capabilities globally that embody Public Interest and People- Centered Management. 07 08 SCM transformation/ Improving operational efficiency • Embed Gain/ Reduce/ Leverage circulation management (examples of initiatives) Gain: Maximize sales capabilities through enhanced production and sales planning. Reduce: Optimize costs and improve operational productivity. Leverage: Activate investment execution and strengthen ROI management. 06 Advancing Productivity Improvement Committee initiatives Step 1 [Opportunity Identification] largely completed and moved to Steps 2–3 [Development and Execution of Detailed Implementation Plans]. Priority themes are product costs, IT expenses and investment, labor-hour productivity, and general expenses. Identify opportunity areas and quantify Impact Develop detailed plans Execute Initiatives Deliver impact and strengthen organization Expand Development Hubs beyond Japan Standardize the common platform, while assigning regional functions locally based on strengths and market needs. Development & Operations Southeast Asia Research & Development Mainland China Oversight & Governance Japan Build the IT platform to accelerate business growth Publication of MUJI book for internal understanding Articulate MUJI’s philosophy in words for the first time. Enable employees to return to the roots, formally define the concept of ESG as a Core Business Strategy that has guided us since our founding, and inspire new ideas. 46
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. 47 Key Concepts for Global Growth 1 Each executive leader manages the business through “Globe-Turning” Perspective. Points: Strengthen each location and function Lines: Connect and share knowledge and capabilities across locations and functions Networks: Maximize synergies through global collaboration Time: Continuously evolve ahead of change 2 The future management structure will evolve into a matrix organization combining regional and functional headquarters Move beyond Japan-centric management. Leverage global expertise through a matrix structure of regional business leaders and the Global Strategy Team. 3 Developing our people and expanding our workforce will be the foundation of our business. Launching graduate recruitment globally, renewing employee development programs, reorganizing personnel support system from Japan, and enhancing talent management across global operations.
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. 48 Execute management from a “Globe-Turning” perspective, constantly moving and evolving. “Globe-Turning” Perspective *AI-generated imagery used
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. 49 Appendix
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. 50 Exchange rates used for consolidated financial reporting <Reference> Foreign exchange rate (JPY) 1RMB 1NTD 1HKD 10KRW 1THB 1USD 1EUR FY25/8 full-year result 20.64 4.71 19.09 1.06 4.45 148.84 163.61 FY26/8 full-year result 22.64 4.98 20.06 1.07 4.85 156.69 182.31 (Reference) FY26/8 initial full-year plan 20.40 4.93 18.67 1.06 4.50 146.36 170.07 (Reference) FY26/8 revised full-year plan 22.16 4.96 19.87 1.07 4.85 154.95 181.06 FY27/8 and beyond (plan) 22.64 4.98 20.06 1.07 4.85 156.69 182.31 The foreign exchange rate assumptions for FY27/8 and beyond are based on the FY26/8 full-year result.
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. 97.7 87.2 108.2 95.8 122.1 103.9 133.1 111.1 133.3 111.1 146.8 119.9 46.5 49.4 48.4 50.3 54.1 56.3 54.3 57.6 68.0 68.1 76.8 81.0 8.6 10.4 9.9 10.3 10.9 13.6 12.0 13.7 14.5 18.6 16.0 17.4 10.2 9.9 9.4 9.6 10.7 10.6 9.8 11.1 12.5 12.5 12.8 14.5 162.9 156.9 175.9 166.0 197.7 184.3 209.1 193.5 228.2 210.3 252.2 232.8 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 FY24/8 FY25/8 FY26/8 国内事業 東アジア事業 東南アジア・オセアニア事業 欧米事業 51 <Reference> Historical operating revenue by segment Japan business East Asia business Southeast Asia & Oceania business North America & Europe business (billion yen)
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. 52 10.0 7.0 13.9 8.9 15.0 9.0 17.2 10.8 18.4 9.1 23.7 12.2 8.5 7.7 9.3 10.0 11.1 10.3 11.2 10.3 14.2 13.4 17.9 16.30.8 1.7 1.1 1.0 1.1 2.2 1.2 1.1 1.8 3.0 2.1 2.2 1.2 1.2 1.5 1.7 2.3 1.4 1.7 1.6 2.8 1.2 1.5 2.6 -6.6 -7.3 -7.4 -8.0 -7.5 -8.7 -8.0 -9.5 -8.9 -10.1 -9.5 -10.7 13.9 10.2 18.4 13.7 22.0 14.1 23.3 14.4 28.4 16.7 35.8 22.6 8.5% 6.5% 10.4% 8.2% 11.1% 7.7% 11.1% 7.5% 12.4% 7.9% 14.2% 9.7% ‒50.0% ‒40.0% ‒30.0% ‒20.0% ‒10.0% 0.0% 10.0% ‒15.0 ‒5.0 5.0 15.0 25.0 35.0 45.0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 FY24/8 FY25/8 FY26/8 国内事業 東アジア事業 東南アジア・オセアニア事業 欧米事業 グローバル販管費 <Reference> Historical operating profit by segment (billion yen) Japan business East Asia business Southeast Asia & Oceania business North America & Europe business Global SG&A
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. 81.8 77.7 90.6 86.3 102.0 93.2 107.5 100.2 120.1 109.6 133.1 124.9 50.2% 49.5% 51.5% 52.0% 51.6% 50.6% 51.4% 51.8% 52.6% 52.1% 52.8% 53.6% 45.0% 46.0% 47.0% 48.0% 49.0% 50.0% 51.0% 52.0% 53.0% 54.0% ‒10,000 10,000 30,000 50,000 70,000 90,000 110,000 130,000 150,000 170,000 190,000 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 FY24/8 FY25/8 FY26/8 53 <Reference> Historical gross profit (consolidated) Gross profit margin (billion yen)
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. 14.8 13.3 14.9 14.9 17.6 16.4 17.1 18.0 20.1 19.9 18.6 22.4 6.9 7.2 7.2 7.5 7.5 8.0 8.1 8.3 8.5 9.4 10.0 10.212.2 12.2 13.2 12.9 14.1 13.8 14.6 14.4 16.1 15.4 17.4 16.6 21.9 23.5 24.2 25.3 26.3 27.8 29.0 30.1 31.3 33.1 33.7 36.0 9.2 8.6 10.1 9.1 11.1 10.0 11.6 10.7 11.8 11.0 13.3 12.1 3.0 2.5 2.6 2.9 3.4 3.1 3.8 4.2 3.9 4.2 4.3 5.0 68.0 67.5 72.2 72.6 80.0 79.1 84.2 85.8 91.8 93.0 97.3 102.2 41.7% 43.0% 41.1% 43.8% 40.5% 42.9% 40.3% 44.3% 40.2% 44.2% 38.6% 43.9% 20.0% 25.0% 30.0% 35.0% 40.0% 45.0% 0 20,000 40,000 60,000 80,000 100,000 120,000 140,000 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 FY24/8 FY25/8 FY26/8 SG&A/ Revenue ratio 54 <Reference> Historical SG&A (consolidated) (billion yen)
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©Ryohin Keikaku Co., Ltd. All Rights Reserved. Disclaimer • Information contained in this material does not constitute a solicitation of an offer to buy or sell securities in Ryohin Keikaku Co., Ltd. or otherwise make an investment. • All statements, other than statements of historical facts, in this document, including, but not limited to, those regarding its financial position, business strategy, management plans and objectives for future operations are estimates based on currently available information. These statements are subject to risks and uncertainties and may differ materially from actual results. • Ryohin Keikaku exercises due care in the preparation of data and materials; however, in no event will Ryohin Keikaku be liable for any damages or losses arising in connection with this document, including potentially incorrect information in this document and data alteration by any third parties.