First Read Ryohin Keikaku Management reshuffle: strengthening management lineup for MUJI‘s global expansion

研报英文原文证据摘录

First Read Ryohin Keikaku Management reshuffle: strengthening management lineup for MUJI‘s global expansion

Global Research

13 July 2026ab

First Read

EquitiesRyohin Keikaku

Management reshuffle: strengthening Japan

management lineup for MUJI's global expansion Retailers, Broadline

12-month rating Buy

12m price target ¥4,600.0

Summary

On 13 July the company announced a management reshuffle effective 1 August. We

summarise the key points and implications. Price (13 Jul 2026) ¥4,233

RIC: 7453.T BBG: 7453 JP

The company announced an executive officer reshuffle

Trading data and key metrics

The company announced changes in executive officers. We highlight the strengthening

52-wk range ¥4,233-2,657

of the management lineup for MUJI’s global expansion. Specifically, in the previous

Market cap. ¥2,246b/US$13.9b

structure, Mr. Richard Rappaport alone oversaw the North America and Europe

businesses, while in the new structure, Mr. Rappaport will oversee the North America Shares o/s 530m (ORD)

business, and Mr. Takuo Nagahara, who has supervised Store Management, will newly Free float 88%

oversee the Europe business in addition to Store Management. In addition, Ms. Mariko Avg. daily volume ('000) 4,077

Oguri, who has overseen the Central Japan Sales Division, will now oversee the Taiwan Avg. daily value (m) ¥14,884.6

business, and the Hong Kong business will be added to the areas overseen by Mr. Kenta Common s/h equity (08/26E) ¥383b

Hochido, who has overseen Corporate Planning, Business Management, India business, P/BV (08/26E) 5.9x

and Middle East business. There are no changes to the supervision of the Southeast Asia Net debt to EBITDA (08/26E) NM

business by Mr. Hidenobu Sanada, the Mainland China business by Mr. Kenta Horiguchi,

EPS (reported, basic) (¥)