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Last Updated: 2008.07.09

Transfer of ASPESI JAPAN stock

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FAST RETAILING CO., LTD. has transferred its entire stock holding in FR consolidated subsidiary ASPESI JAPAN CO., LTD. to Alberto Aspesi & C S.p.A.

1. Details of stock sale

(1) Stock for delivery

FR holding of ASPESI JAPAN stock (approximately 60% of ASPESI JAPAN total outstanding shares)

(2) Stock recipient

Company Name :   Alberto Aspesi & C S.p.A.
Representative :   Alberto Aspesi
HQ Location :   Legnano, Italy
Business Type :   Design, manufacture and sale of Aspesi brand clothing

2. Impact on FR consolidated results

We envisage any impact on FR results for the year ending August 2008 will be minimal. As a result of this decision however, ASPESI JAPAN will no longer be treated as an FR consolidated subsidiary.

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