Fast Retailing opens subsidiary to manage store expansion

03 Sep '09

1 min read

FAST RETAILING CO., LTD. has decided to establish a subsidiary company in China, the details of which are set out below:

1.Purpose of establishing subsidiary company
The expansion of our store network in China is an important business issue at FAST RETAILING.We are currently aggressively opening new stores in that nation and have now decided to open a global flagship store in Shanghai, China. Given these developments, we have decided to establish a new subsidiary company as administrator of the Chinese store network.

2.Outline of established subsidiary(All the following details are tentative at this stage)
(1) Business name: FAST RETAILING (China) Co., Ltd.
(2) Location: Jingan district, Shanghai city, China
(3) Business representative: Naoki Otoma (as the head of FAST RETAILING (China) Trade Co., Ltd.)
(4) Establishment schedule: December 2009
(5) Type of operation: The opening and management of UNIQLO stores in China
(6) Paid-in capital: 30 million US dollars

3.Impact on FR business performance
We estimate the impact of the establishment of this subsidiary on FR parent-only business performance for the year through August 2010 will be minimal.

FAST RETAILING CO LTD

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