Fast Retailing to increase capital at UK subsidiary
14 Jul '07
2 min read
At the board meeting held on July 12, 2007, FAST RETAILING CO LTD. decided to increase capital at its UK subsidiary UNIQLO (U.K.) LTD. The details of this capital increase are as follows:
Reason for capital injection
To strengthen UNIQLO operations in the UK through additional store openings, etc.
Details of capital injection
• Capital injection total 5.25 million pounds sterling (approx. ¥ 1.3bln)
• No. of outstanding shares 4,000,000 ordinary shares
• `No. of shares after capital injection 9,250,000 ordinary shares
• Date of completion August 2007 (tentative)
Outline of UNIQLO (U.K.) LTD
• Business name UNIQLO (U.K.) LTD.
• Business location London, England
• Business representative Masayuki Nagatake, President
• Business aim The sale and promotion of UNIQLO brand casual clothes in the UK
• Date of establishment August 7, 2003
• Capital Before injection: 4 million pounds sterling (approx. ¥ 1.0bln) After injection: 9.25 million pounds sterling (approx. ¥ 2.3bln) Calculated using exchange rate of 1 pound = ¥ 247
• Shareholdings FAST RETAILING CO., LTD. 100% (This capital injection will not alter the ownership position)
Impact on business performance
This capital injection will not impact FR consolidated results for the year to August 31, 2007.
The FAST RETAILING group is a group of companies that is willing to stand up and challenge the old existing bonds with strong conviction and high ambition in order to realize an even better world. We are changing the traditional structure of apparel retailing in Japan. And we are also changing the way that people view and value their clothes.
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