As the coronavirus pandemic continues to pummel the world’s major economies, Japan’s corporate giants are pinning their hopes on the one market that is really rebounding: China. Uniqlo operator Fast Retailing Co. said Thursday that sales of its casual clothing in China are recovering faster than expected and will be a big driver of what it hopes will be record results in the current fiscal year ending August 2021. The company forecast an 83% rise in net profit to 165 billion yen ($1.6 billion) and a 10% increase in revenue.

Source: Wall Street Journal October 15, 2020 13:16 UTC