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UNIQLO-Toray ink JV for procurement and supply

Jul '06
Tadashi Yanai, Chairman & CEO of UNIQLO CO LTD and Sadayuki Sakakibara, President & CEO of Toray Industries Inc first reached an agreement back in March this year to develop a strategic partnership between the two companies.

Based on that partnership, we are now proud to announce the signing of an agreement covering mid- and long-term, comprehensive procurement and supply. The FR group is aiming to expand sales to 1 trillion yen by 2010 with the domestic and global UNIQLO business contributing ¥700bln of that total.

The Toray group is also aiming for sales of 1.8 trillion yen with its entire fibers & textiles operation contributing ¥600bln. The forming of a strategic partnership will enable our two firms to offer new value products to our customers. In addition, we will be looking to further strengthen our cooperation to incorporate the possible development of new business areas and operations.

1. Setting the direction for mid- and long-term cooperation
UNIQLO and Toray have determined the direction of this mid- and long-term cooperative relationship in order to enable our firms to work closely and enthusiastically on new product development and planning.

In challenging the borders between material manufacturer and SPA clothes producer and retailer, our two companies will create a seamless product development system that unifies all the stages from material selection through final product sale.

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