Uniqlo Owner Shares Rise to Record on Global Profit Outlook

Fast Retailing Co. shares rose to a record after the Japanese apparel retailer raised its full-year operating profit outlook, thanks to strong margins and gains driven by robust Uniqlo demand in the US and Europe.

The stock climbed as much as 10% in early morning trading in Tokyo on Friday, touching a new historic high since its public debut in July 1994 and giving the business a valuation of ¥23.5 trillion ($148 billion).