FAST RETAILING and DNP Clothing Sdn Bhd, Malaysia's leading retailer, have established a joint venture in Malaysia. Details regarding this venture are outlined below:
1. Objective of joint venture
This venture is established for the purpose of expanding UNIQLO business operations in Malaysia.
2. Overview of venture (the following is subject to change)
(1) Business name: UNIQLO (MALAYSIA) SDN BHD (2) Location: Kuala Lumpur, Malaysia (3) Representatives: Satoshi Onoguchi (Concurrently representative of UNIQLO (SINGAPORE) PTE. LTD.) A representative of DNP Clothing Sdn Bhd - to be announced (4) Operations: The opening and managing of UNIQLO stores in Malaysia. (5) Paid-in capital: 18. 8 million ringgit (Approximately 540 million yen) (6) Investment partners and capital contribution: FAST RETAILING CO. , LTD. 55.0% DNP Clothing Sdn Bhd 45.0%
3. Overview of DNP Clothing Sdn Bhd
(1) Business name : DNP Clothing Sdn Bhd (2) Location : 25-3A Jalan SS23/11 Taman SEA 47400 Petaling Jaya (3) Representative : Lee Cheng Toh (4) Operations : Retailing of garments (5) Shareholder composition : DNP Holdings Berhad 100%
4. Impact on business performance
This development's impact, if any, on FAST RETAILING's consolidated and nonconsolidated results for the year to August 2010, is expected to be minimal.
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