Fast Retailing increases capital at its Singapore regional subsidiary
24 Nov '11
2 min read
At its executive board meeting held on November 24, 2011, Fast Retailing Co., Ltd. decided to increase capital at its consolidated regional subsidiary FAST RETAILING (SINGAPORE) PTE. LTD. The details of the capital injection are listed below:
1. Purpose of capital increase
As the company overseeing Southeast Asian operations, FAST RETAILING (SINGAPORE) PTE. LTD. (a subsidiary of Fast Retailing Co., Ltd.) is tasked with improving overall operational efficiency and improving business performance in the region. We decided to increase capital of FAST RETAILING(SINGAPORE)PTE. LTD. at this time because it is starting to see more opportunities for growth of the business.
This capital increase will be used to acquire stock in the three affiliates operating in the Southeast Asian Region; UNIQLO (SINGAPORE) PTE.LTD., UNIQLO (MALAYSIA) SDN BHD, and UNIQLO (THAILAND) COMPANY LIMITED. In addition, the provisionally-named FAST RETAILING PHILIPPINES, INC. is expected to be jointly owned by FAST RETAILING (SINGAPORE) PTE. LTD. and SM Retail of the Philippines.
2. Overview of FAST RETAILING(SINGAPORE)PTE. LTD.
(1) Company name: FAST RETAILING(SINGAPORE)PTE. LTD.
(2) Location: 107 Tampines Road, Wing Tai Building, Singapore 535129
(3) Representative: Naoki Otoma
(4) Paid-in capital: 1 Singapore dollar
(5) Investment stake: Fast Retailing Co., Ltd. 100%
(6) Type of operation: The management of subsidiaries operating mainly in Southeast Asia
3. Details of capital injection
(1) Amount : Approximately 32mln Singapore dollars (equivalent to \2bln)
(2) Investment stake following the capital injection: Fast Retailing Co., Ltd. 100%
(3) Completion date : Scheduled for end November 2011
4. Impact on overall business performance
This capital injection will have no impact on the FR Group's consolidated business performance for the fiscal year ending August 2012.
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