Fast Retailing has reported that net profit rose 14.4% to ¥49.8bn (£315m) for the financial year ended August 31. Sales rose 16.8% to ¥685.04bn (£4.3bn).

The clothing store operator will seek to expand its Uniqlo stores in Asia from 76 to 132 over the next year. Fast Retailing, which aims to increase sales sevenfold by 2020, recently opened a flagship store in Paris.

A new flagship is planned for Shanghai next year, along with the retailer’s first store in Moscow.