M&A Strategy

Last Updated: 2011.09.01
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Objectives of M&A

To further increase the sales and profitability of the Fast Retailing Group, one option is mergers and acquisitions (M&A). The objectives of our M&A activities are, first, to acquire businesses overseas and in new markets to strengthen our business platform. M&A will enable us to expand our retail store network and obtain top-quality talent, even in new markets. The second objective of our M&A activities is to acquire brands with the potential for global development and thereby strengthen and expand our portfolio. Our acquisitions of Theory, Comptoir des Cotonniers and Princesse tam.tam are examples of such M&A activities.

M&A Criteria and Decision-Making Process

The two most important criteria in assessing M&A deals are growth potential and profitability. The key condition for growth is whether the brand has the potential to develop globally. If the brand has a solid underlying concept, we can actively share our infrastructure--the financial resources of the FAST RETAILING Group; our know-how in store operations, production management and sales planning, inventory management, and other areas; production systems in China; and information systems--and work together to realize high growth and profitability.

Another important criterion in selecting M&A deals is whether the company's management shares the values of UNIQLO and the FAST RETAILING Group: in other words, whether the management has a spirit of innovation and challenge that will drive the company to create large, highly profitable, and high-growth, global businesses.

When making investment decisions, M&A proposals are carefully examined by the Board of Directors, which includes four external directors, and final judgments are based on assessment of investment returns and synergies.

Strategic Milestones of the FAST RETAILING Group

• 2004

  January

  Acquired an equity stake in LINK INTERNATIONAL CO.,LTD. (now LINK THEORY JAPAN CO.,LTD.), developer of the THEORY brand

• 2005

  March

  Acquired ONEZONE CORPORATION

  May

  Obtained management control of NELSON FINANCE S.A.S., developer of the COMPTOIR DES COTONNIERS brand

• 2006

  February

  Acquired PETIT VEHICULE S.A., developer of the PRINCESSE TAM.TAM brand

  March

  Established G.U. CO., LTD.

  April

  Invested in CABIN and concluded an operating alliance

  November

  Invested in VIEWCOMPANY CO.,LTD.

• 2007

  August

  Made CABIN into a subsidiary through a takeover bid

• 2008

  February

  Made VIEWCOMPANY CO., LTD. into a subsidiary through a takeover bid

• 2009

  March

  Made LINK THEORY JAPAN CO.,LTD. into a subsidiary through a takeover bid

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