Fast Retailing ( Uniqlo ) 6288

Fast Retailing ( Uniqlo ) 6288

Postby winston » Fri Jan 24, 2014 6:56 am

Separately, Fast Retailing - the parent of Japanese casual-clothing chain Uniqlo - will seek approval from the local securities regulator next week for a secondary listing.

If it gets the green light, the Tokyo-listed firm will list locally in March through an issue of Hong Kong depositary receipts, the Wall Street Journal reported.
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Re: Fast Retailing ( Uniqlo )

Postby winston » Mon Jan 27, 2014 8:47 pm

Uniqlo Owner to List Hong Kong Receipts Without New Shares

By Yuki Yamaguchi and Marco Lui

http://www.bloomberg.com/news/2014-01-2 ... hares.html
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Re: Fast Retailing ( Uniqlo ) 6288

Postby winston » Wed Mar 05, 2014 7:21 pm

Fast Retailing gains in Hong Kong debut, aims for bigger China profile By Elzio Barreto

(Reuters) - Uniqlo owner Fast Retailing Co Ltd climbed 7 percent in its Hong Kong trading debut - a listing aimed at raising its profile in China where it plans to expand aggressively as part of its bid to become the world's top clothing firm.

Though Hong Kong depositary receipts (HDRs) for foreign firms will usually yield little in the way of active market liquidity, some global companies have made the move, seeing it as more of a marketing exercise to appeal to local retail investors.

Aspiring to become the world's leading apparel retailer by 2020, Japan's Fast Retailing (9983.T) is planning to triple its number of stores in Greater China to 1,000 by that time - one of the most ambitious plans for China mapped out by a global clothing firm.

China is Uniqlo's second biggest market after Japan, and by number of stores it is the largest global apparel brand in the country ahead of Hennes & Mauritz (H&M) (HMb.ST), Inditex S.A.'s (ITX.MC) Zara, and Gap Inc (GPS.N).

Helped by their novelty value, the HDRs (6288.HK) gained more than their counterparts traded in Tokyo where they rose 3 percent. At one point in early thin trade, the HDRs shot up by nearly a third before quickly paring back gains. They stood at HK$29.20 in the afternoon.

Each HDR represents one hundredth of the Japanese company's Tokyo-traded stock.

LIQUIDITY ISSUES

To mark the occasion, Chief Executive Tadashi Yanai rang the opening bell at the Hong Kong bourse. He did not speak to media eager to quiz him on the company's interest in possibly acquiring J.Crew Group Inc.

Sources have said Yanai has looked at a possible deal but that the billionaire is likely to balk at the $5 billion price tag J.Crew is said to be asking for.

Traders said liquidity in Hong Kong would be an issue and there was very little reason for institutional investors to buy into the stock on the island city's bourse when they could get better liquidity in Tokyo.

"HDRs in Hong Kong are targeted mainly at the retail market, so liquidity tends to be low," said Jackson Wong, Tanrich Securities' vice-president for equity sales.

By early afternoon, trade in Fast Retailing in Hong Kong was roughly equivalent to $15.9 million compared to about $300 million worth of trade in Tokyo.

While other companies such as Coach Inc (COH.N) (6388.HK) and casino operator Melco Crown Entertainment Ltd (MPEL.O) (6883.HK) have also listed in Hong Kong without raising capital to boost their profile, at least one - financial firm SBI Holdings (8473.T) (6488.HK) - has said low liquidity meant it was no longer worth the effort.

As SBI's primary bourse is Tokyo, it will delist in June, it said Tuesday, saving annual costs of more than 100 million yen

($979,000).

HDRs now represent just 0.05 percent of its outstanding shares, down from the 9.1 percent when it originally listed in 2011, while trading "has been minimal." But it said it may consider Hong Kong as a primary bourse for some of its units.

The sole sponsor for Fast Retailing's Hong Kong listing was Morgan Stanley (MS.N), which earned about 150 million yen ($1.5 million) in fees, according to Fast Retailing's listing prospectus.


Source: Reuters
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Re: Fast Retailing ( Uniqlo )

Postby winston » Wed Mar 05, 2014 9:41 pm

FAST RETAIL-DRS (06288.HK): Same-store sales increase in Jan & Feb

FAST RETAIL-DRS (06288.HK) N/A (N/A) Short selling $88.21M; Ratio 66.333% , the parent group of UNIQLO, is listed on the Main Board by means of HDR today.

Executive vice president Pan Ning refused to comment on the proposed delisting of SBI HLDGS-DRS (06488.HK) -0.370 (4.200%) , and the market rumor which suggested the group has been seeking to acquire J.Crew, a fashion chain in the USA.

Pan mentioned same-store sales had expanded in January and February, yet he did not provide detailed data. He added Greater China is the current largest overseas market of the group, planning to open 80-100 new stores every year in the future.

Source: AAStocks Financial News
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Re: Fast Retailing ( Uniqlo ) 6288

Postby winston » Thu Mar 06, 2014 6:32 am

Fast Retailing steps up the pace of global growth by Ling Wang
Thursday, March 06, 2014

Hong Kong depository receipts of Fast Retailing (6288) closed up 5.6 percent on its listing debut yesterday.

Shares of the Japanese cheap-chic clothing chain, which hopes to have 1,000 Uniqlo stores in Greater China by 2020, closed at HK$28.90 in Hong Kong, its secondary listing after Tokyo.

Chief executive Tadashi Yanai said the company targets five trillion yen (HK$380 billion) of sales by 2020 from one trillion yen last year.

"We hope to achieve this through natural growth instead of by acquisition," Yanai said.

Fast Retailing was earlier reported to be in talks about a potential US$5 billion (HK$38 billion) acquisition of J Crew Group, the US retailer owned by TPG Capital and Leonard Green & Partners, a step that might push the Japanese retailer ahead of its global peers.

Uniqlo, which earns 60 percent of its revenue from 800 outlets across Japan, now aims to expand its overseas market, especially Greater China.

Yanai expects to have 629 outlets overseas, with 374 in Greater China, by August.

It currently has 324 stores in Greater China, among them, 259 are in the mainland and 21 in Hong Kong.

The company opened its biggest Uniqlo store in Shanghai in September. Aside from the aim of 1,000 stores by 2020, its ultimate target is 3,000 outlets.

China is Uniqlo's second biggest market after Japan, and by number of stores it is the largest global apparel brand in the country ahead of Hennes & Mauritz (H&M), Inditex's Zara, and US-based Gap.

Yanai said the group will open the first branch in Australia in April and add 20 to 30 outlets each year in the US, targeting 100 outlets in the future. Chief financial officer Takeshi Okazaki said the return on equity will be sustained at 20 percent and payout ratio for this year will be 33.2 percent.

He said the Hong Kong move was meant to boost its profile in Greater China and Southeast Asia instead of raising money.

Source: The Standard HK
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Re: Fast Retailing ( Uniqlo ) 6288

Postby winston » Thu Mar 06, 2014 11:53 am

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<IPO News>Fast Retailing (06288.HK) gross profit affected by Japanese operations

According to the information revealed in the listing documents, Fast Retailing (06288.HK)'s gross profit saw a descending trend in the last three years, at 51.9%, 51.2% and 49.3% respectively.

The company's senior executive vice president Pan Ning explained that such trend was mainly due to the decrease in gross profit for the company's Japanese business, while the performance in overseas markets were better.

He emphasized that the Japanese market's gross profit basically remained stable in the last ten years.

Source: AAStocks Financial News
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Re: Fast Retailing ( Uniqlo ) 6288

Postby winston » Thu Mar 06, 2014 11:54 am

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<IPO News>Fast Retailing (06288.HK) targeting second, third-tiered cities on huge potential in mainland

UNIQLO's parent company Fast Retailing (06288.HK) will be listed on the Main Board of the Hong Kong Stock Exchange by way of Hong Kong depository receipts (HDR) as secondary listing on 5 March.

The company's deputy president Pan Ning said China becomes more focused on domestic demand and the service sector than before, and the Chinese market becomes more important to retail companies. Though the company's same store sales in Hong Kong keeps growing, the market itself has limited long-term development potential.

The group has stores in Beijing, Shanghai, Shenzhen and Guangzhou currently, and aims to enhance the density of its sales network in the future, most likely to tap into the second and third-tiered cities, Pan said, adding that he is bullish about the Chinese marker prospect and it is possible that China will become the biggest market for the group in the next five to ten years.


Source: AAStocks Financial News
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Re: Fast Retailing ( Uniqlo ) 6288

Postby winston » Mon Mar 17, 2014 6:08 am

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Japan’s Fast Retailing surges in Hong Kong trading debut

HONG KONG – Fast Retailing Co Ltd jumped 4 percent in its Hong Kong trading debut on Wednesday as the operator of Japan’s Uniqlo clothing outlets listed in the island city in an effort to boost its profile in mainland China and beyond.

At one point, the shares shot up as much 31 percent in thin trade before quickly back falling back. In Tokyo, the stock (9983.T) was trading 2.8 percent higher.

The strong debut underscores strong investor appetite for high profile brands that has atttracted several other global names such as Coach and casino operator Melco Crown Entertainment Ltd to Hong Kong without actually raising capital.

Fast Retailing’s Hong Kong listing is part of a plan to become the world’s top apparel retailer by 2020, and which may include offering shares at other exchanges, Chief Financial Officer Takeshi Okazaki said last month.

Fast Retailing’s Hong Kong depositary receipts were trading at HK$28.45 in morning trade compared with a reference price of HK$27.36, which is based on the close of the company’s Tokyo listed shares on Tuesday.

Fast Retailing shares closed on Tuesday at 35,890 yen, or an equivalent of HK$27.36 per HDR, according to a securities filing. Each HDR representing one hundredth of the Japanese company’s Tokyo-traded stock.

By comparison, Hong Kong’s benchmark Hang Seng Index .HSI was up 0.4 percent higher and fashion peer Prada up 1.2 percent.

Fast Retailing expects China, as well as the rest of Asia, to drive its rapid expansion and account for three-quarters of its global outlets by that time.

It wants to more than triple the number of stores in Greater China to 1,000 by 2020, when it hopes to be the world’s biggest apparel retailer surpassing Zara’s Inditex, Hennes & Mauritz and Gap.

Sources have said that Fast Retailing is also exploring a bid for U.S. apparel chain J.Crew Group Inc.

The so-called listings by introduction have had limited success compared with typical initial public offerings because there are no new shares to trade, which reduces their liquidity.

The deal’s sole sponsor was Morgan Stanley, which earned about 150 million yen ($1.48 million) in fees, according to Fast Retailing’s listing prospectus.

http://retail-news.net/2014/03/16/japan ... ing-debut/
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Re: Fast Retailing ( Uniqlo ) 6288

Postby winston » Thu Apr 10, 2014 5:55 pm

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FAST RETAIL-DRS (06288.HK) profit drops 1.4% to 64.6B yen in IR
2014-04-10

FAST RETAIL-DRS (06288.HK) -0.550 (1.954%) reported a 24.3% growth in net sales to 764.349 billion yen in the interim results.

Net income retreated 1.4% to 64.557 billion yen.

Basic earnings per share were 633.52 yen.

An interim dividend of 150 yen was declared.

Dealings in FAST RETAIL-DRS shares will resume on 11 April.


Source: AAStocks Financial News
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Re: Fast Retailing ( Uniqlo ) 6288

Postby winston » Fri Apr 11, 2014 7:58 am

Fast Retailing cuts profit forecast as costs rise

Fast Retailing (9983), Asia's biggest clothing retailer, cut its forecast for annual profit as costs rose and demand weakened for the company's casual wear in Japan.

Net income will be about 88 billion yen (HK$6.7 billion) for the year ending August, lower than its previous forecast of 92 billion yen, the maker of Uniqlo brand clothing said today. That compares with the 94.5 billion yen average of 19 analyst estimates compiled by Bloomberg.

Billionaire Tadashi Yanai's casual clothing retailer is spending more on salaries and expanding overseas, opening stores in New York, Paris, Shanghai and Jakarta to boost sales as an April 1 consumption tax increase in Japan dampens demand.

Costs for part-time workers, distribution and warehousing rose in the first half, while a last- minute surge in sales before the tax increase failed to materialize, the company said.

"I don't have an optimistic view about consumption in Japan," Yanai told reporters yesterday in Tokyo. He said he had yet to see an effect on sales from the tax increase.

The Japanese economy is forecast to shrink an annualized 3.5 percent in the quarter started April, when the sales tax rose to 8 percent from 5 percent, according to a Bloomberg News survey conducted last month.

Yanai is betting on overseas expansion for faster growth. The executive has said he intends to increase outlets in Greater China, its biggest market outside Japan, to 1,000 from the current 267.

Source: BLOOMBERG
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