Last Updated: 2006.01.26
FAST RETAILING to increase capital at its US subsidiary
( 9KB )
FAST RETAILING CO., LTD.
At its extraordinary board meeting held on January 26, 2006, FAST RETAILING CO., LTD. decided to inject additional capital into its local US subsidiary UNIQLO USA, Inc. The details of this capital injection are listed below.
1. Reason for capital injection
To strengthen UNIQLO operations in the US through additional store openings, etc.
2. Details of capital injection
(1) Capital injection total $24 million
(2) No of outstanding shares 200 ordinary shares
(3) No of shares post capital increase 1,000 ordinary shares (tentative)
(4) Date of completion February 2006 (tentative)
3. Outline of UNIQLO USA, Inc.
(1) Business name UNIQLO USA, Inc.
(2) Business location 1114 Avenue of the Americas, 41st Floor New York, NY
10036, U.S.A.
(3) Business representative Nobuo Domae
(4) Business aim The sale and promotion of UNIQLO brand casual clothes in
the US
(5) Date of establishment November 22, 2004
(6) Capital
Before capital injection: $6mln (approx. ¥0.7bln)
After capital injection: $30mln (approx. ¥3.5bln)
※calculated using exchange rate at end December 2005 of $1 = ¥118.07
(7) Shareholdings
Before capital injection: FR stake 100%
After capital injection: FR stake 100%
4. Expected impact on FR consolidated results
We envisage that the impact of this capital injection on the FR consolidated results for the year to August 2006 will be minimal.