Last Updated: 2010.06.29
FAST RETAILING CO., LTD. Establishes Joint Venture with DNP Clothing Sdn Bhd in Malaysia
FAST RETAILING CO., LTD.
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FAST RETAILING and DNP Clothing Sdn Bhd, Malaysia's leading retailer, have established a joint venture in Malaysia. Details regarding this venture are outlined below:
1. Objective of joint venture
This venture is established for the purpose of expanding UNIQLO business operations in Malaysia.
2. Overview of venture (the following is subject to change)
| (1) | Business name : | UNIQLO (MALAYSIA) SDN BHD |
| (2) | Location : | Kuala Lumpur, Malaysia |
| (3) | Representatives : | Satoshi Onoguchi (Concurrently representative of UNIQLO (SINGAPORE) PTE. LTD.) A representative of DNP Clothing Sdn Bhd - to be announced |
| (4) | Operations : | The opening and managing of UNIQLO stores in Malaysia. |
| (5) | Paid-in capital: | 18. 8 million ringgit (Approximately 540 million yen) |
| (6) | Investment partners and capital contribution : | FAST RETAILING CO. , LTD. 55.0% DNP Clothing Sdn Bhd 45.0% |
3. Overview of DNP Clothing Sdn Bhd
| (1) | Business name : | DNP Clothing Sdn Bhd |
| (2) | Location : | 25-3A Jalan SS23/11 Taman SEA 47400 Petaling Jaya |
| (3) | Representative : | Lee Cheng Toh |
| (4) | Operations : | Retailing of garments |
| (5) | Shareholder composition : | DNP Holdings Berhad 100% |
4. Impact on business performance
This development's impact, if any, on FAST RETAILING's consolidated and nonconsolidated results for the year to August 2010, is expected to be minimal.
