Uniqlo's parent company said Thursday that its nine-month net profit soared nearly 70 percent from a year earlier on robust sales and as a cheaper yen inflated the value of its overseas assets.

Fast Retailing's net profit came in at 120 billion yen ($1 billion) in the nine months through May, while revenue rose 3.0 percent to 1.48 trillion yen, it said. Asia's biggest retailer -- a rival of Zara, Gap and H&M -- said sales were particularly robust overseas. Operating profit for the quarter doubled in the Southeast Asian/Oceania region as well as in South Korea, it said.

Nine-month operating profit rose 23.9 percent to 181 billion yen.

It has refocused its strategy on luring bargain-hunters after an earlier bid to raise prices hurt Uniqlo's sales.