Fast Retailing (HKG:6288, TYO:9983) will increase the capital extended to Fast Retailing USA Technologies by boosting its stake through unit Fast Retailing US, a Thursday bourse filing said.
The move will enable Fast Retailing to acquire knowledge and expertise on cutting-edge technologies, primarily in the USA, to improve customers' shopping experience.
The capital increase from $1 to $1 million will raise the total amount of capital provided to Fast Retailing USA Technologies to at least 10% of multinational retail holding company Fast Retailing's capital, making the former a specified subsidiary.
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