Swatch Group

Global luxury groups · UHR.SW

The Japan read

From the company's own filing for H1 2026 (to June) · reported 2026-07-21 · the filing

+20.0%Japan salesJapan figure is at constant currency; group total is reported.

JapanJapan was one of Swatch Group's strongest markets, with sales up 20% at constant exchange rates, ahead of South Korea (+12%) and Australia (+5%) in Asia-Oceania.
Not disclosedThe +20% is the report's only Japan disclosure: no Japan sales amount, store detail, or comment on tourist versus local buyers.

Other callouts in the filing

BasisThe yen averaged CHF 0.4997 per ¥100 versus CHF 0.5823 a year earlier, about 14% weaker (floortok's arithmetic), so Japan's franc growth was far below 20%; currencies cut almost CHF 200m overall.
OutlookSales accelerated to +13.1% at constant rates in May–June with an 8.6% operating margin; management expects 'important' sales growth and significantly better profitability in the second half.
SegmentOwn boutiques grew 18% at constant rates on a comparable store count and now generate almost half of Watches & Jewelry sales; Omega's retail business rose 20% at constant rates.

floortok's reading of the filing, in our own words. Figures are the company's own; where a growth rate is our arithmetic, it says so.

Show figures in

H1 2026 (to June) · Year-to-Date

Reported 2026-07-21

Net salesCHF 3.1bn+2.0%

Operating profit——

Net income——

Japan+20.0%Japan figure is at constant currency; group total is reported.

The Omega-to-Swatch watchmaker grew first-half sales 8.5% at constant currency (+2% reported), with Japan a standout at +20%. Profitability stayed thin, though — a 1.7% operating margin and just CHF16m of net income — in a soft watch market; management said a strong May–June points to a better second half.