Fast Retailing : UNIQLO (RUS) becomes a Joint Corporation between Fast Retailing and Mitsubishi Corp
September 11, 2017 at 07:44 am
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Last Updated: 2017.09.11
FAST RETAILING CO., LTD.
Mitsubishi Corporation to Japanese page to Chinese page
Fast Retailing Co., Ltd. and Mitsubishi Corporation have agreed to turn Limited Liability Company UNIQLO (RUS), Fast Retailing's subsidiary operator of the UNIQLO brand in Russia, into a joint corporation through issuance of new shares to Mitsubishi Corporation.
Fast Retailing first entered the Russian market in 2010. The company has subsequently expanded its UNIQLO network in Russia to a total of 20 stores as of the end of August 2017. Mitsubishi Corporation has been operating in Russia since 1968, and has built presence in a broad range of operations, including energy and automobile sales.
Both companies are committed to jointly expanding UNIQLO (RUS) operations going forward. Making UNIQLO (RUS) into a joint corporation will enable the company to access Mitsubishi Corporation's long-standing knowledge and experience to help accelerate new store openings, improve awareness of the UNIQLO brand, and build a stronger operational base in the Russian market.
Following the issuance of new shares, Fast Retailing will own a 75% stake and Mitsubishi Corporation will hold a 25% stake in UNIQLO (RUS).
Overview of UNIQLO (RUS)
Company name
:
Limited Liability Company UNIQLO (RUS)
Business location
:
10F, Citydel Business Centre, 9 Zemlyanoy Val., Moscow, 105064, Russian Federation
Operating officer
:
Taku Morikawa, Group Executive Vice President,
Fast Retailing Co., Ltd.
Investment subscription
:
1.31001 billion rubles (approx. 2.5 billion yen)
Current ownership
:
Fast Retailing Co., Ltd. (100%)
Main business
:
Retail, and activities relating to the retail of UNIQLO brand casual clothing in the Russian Federation
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Fast Retailing Co. Ltd. published this content on 11 September 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 11 September 2017 06:43:00 UTC.
Original documenthttp://www.fastretailing.com/eng/ir/news/1709111500.html
Public permalinkhttp://www.publicnow.com/view/90FAB039BFAD93E1F8AE356BDC8B920BBED1E2CD
Fast Retailing Co., Ltd. specializes in the distribution of clothes for men, women and children.
At the end of August 2023, the marketing of the products is ensured through a network of 3,578 stores broken down by name mainly between Uniqlo (2,434), G.U. (463), Theory (436), Comptoir des Cotonniers (108), Princesse Tam.Tam (85) and PLST (52).
Net sales are distributed geographically as follows: Japan (43.7%), China (18.2%), and other (38.1%).