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TL;DR
Ryohin Keikaku has a strong franchise with its 'MUJI' brand with a strong market position in Japan and East Asia.
Recent trading is robust as business conditions normalize. Continued geographic expansion looks to be the longer term growth driver, although China exposure brings some complications.
The share is at very cheap levels compared to its historical valuation with a P/E of 13.52, compared to its 10 year average of 20.
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