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Fast Retailing undertakes a JV with Shima Seiki

Fast Retailing Co Ltd, owner of Japanese clothing retailer UNIQLO announces the launch of an Innovation Factory Co., Ltd. (“Innovation Factory”), under a joint venture pact with Shima Seiki Mfg., Ltd., for the joint development and manufacture of knit products, aimed at establishing a new production system utilizing knit production technologies.

Innovation Factory was originally established in December 2015 as a wholly-owned subsidiary of Shima Seiki Mfg., Ltd., producing WHOLEGARMENT®* knitwear. Following the establishment of the joint venture, the company will now produce WHOLEGARMENT® products for the Fast Retailing Group, principally UNIQLO.

Purpose for Launching the Joint Venture Company
Fast Retailing is launching a joint venture with Shima Seiki Mfg., Ltd., a firm with world-leading knitting machine production technologies, with plans to produce high-quality, value-added WHOLEGARMENT® knit products. In future, the joint venture company is expected to function as the lead factory in the production of innovative knit products for the Fast Retailing Group.

Innovation Factory Co., Ltd. Is based in Wakayama City, Wakayama Prefecture, the hometown of Shima Seiki. The company is listed as a manufacturer of knit products including seamless knitwear with invested capital of 400 million yen.  51% of the shares in the company are owned by Shima Seiki Mfg., Ltd. With the remaining 49% being owned by Fast Retailing Co., Ltd.      

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