Fast Retailing to segment UNIQLO-brand casual wear unit

26 Aug '05
3 min read

FAST RETAILING's Board of directors decided on August 4, 2005 to move forward with the company's plans for corporate division, and subsequently signed a corporate division agreement with SUNROAD CO LTD also marked August 4, 2005. This contract relates specifically to FAST RETAILING's plans to segment its UNIQLO-brand domestic casual wear operations in Japan.

This operation covers the whole process from planning and design through manufacture and sale of the casual wear. SUNROAD CO LTD, a fully owned subsidiary of FAST RETAILING, will inherit such domestic UNIQLO operation.

In our press release entitled "FAST RETAILING CO LTD to establish a holding company structure" dated July 14, 2005, announced our intention to change our corporate name to FR HOLDINGS CO LTD. Instead, the August 4 Board of directors decided to maintain the name of FAST RETAILING CO., LTD. even after the corporate division is conducted and the firm shifts to a holding company structure.

Further details of these two decisions are listed below.

1. Overview of corporate division
(1) Motivation behind corporate division
FAST RETAILING CO LTD initially made a name for itself as the developer of casual wear stores first and foremost retailing the UNIQLO brand. Our company grew on the back of our business model for minute involvement in all aspects of the clothing process from manufacture through distribution and sale. However, the Japanese retail clothing business isbecoming increasingly competitive with the passing of each year as new domestic competitors emerge and overseas players penetrate the market. Against such a background, it is both necessary and vital for us to further invigorate and bolster the UNIQLO brand.

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