OREANDA-NEWS. August 24, 2011. Fast Retailing Co., Ltd. (Chairman, President and CEO Tadashi Yanai) and Mitsui Fudosan Co., Ltd. (President and CEO Masanobu Komoda) have signed an agreement to form a business alliance to expand their operations in East Asia.

The agreement builds on the strong partnership that the two companies have formed over many years, which has led to the placement of UNIQLO stores in LaLaport locations and other Mitsui Fudosan development projects. With both companies planning to aggressively expand their respective business operations in East Asia, their partnership agreement is expected to further strengthen their ties with each other and produce synergies that will quickly drive the expansion of both companies' operations in East Asia.

Purpose of the agreement

The two companies signed the agreement with the following aims in mind:
• Fast Retailing hopes to accelerate the opening of its flagship UNIQLO brand stores across East Asia.
• Mitsui Fudosan hopes to accelerate the expansion of its retail property business in East Asia.

Main items of the agreement

The main items of the agreement are as follows:
• Mitsui Fudosan will share information with Fast Retailing about its development projects (urban, suburban and multi-purpose developments) in advance. The companies also plan to discuss the possibility of opening UNIQLO stores and to standardize store formats when Fast Retailing decides to open UNIQLO stores in Mitsui Fudosan developments.
• The two parties plan to share development plans for commercial complexes in East Asia, as well as information about real estate properties and other matters.