SUNDAY STOCK UPDATE: 10.09.22

OLIVIA SPAULDING

FAST RETAILING ADR (OTCMKTS: FRCOY)
Share Price: 53.99 USD
Market Cap: 8.47T JPY

Backstory: Founded in 1963 by Hitoshi Yanai, Fast Retailing Co., (formerly Ogōri Shōji Co., Ltd.) began its humble beginnings as a menswear store. In 1991, the company’s name was changed and Fast Retailing Co. was listed on the Hiroshima Stock Exchange. By the end of the 20th century, the company was listed on the Tokyo Stock Exchange. Currently the world’s fourth largest apparel retailer, Fast Retailing owns over 2000 stores and owns Uniqlo, Helmet Lang, Theory, etc.

Current News: One of Fast Retailing’s greatest feats has been the rise of Uniqlo, a Japanese retail giant which has made recent strides in Western expansion. Following strong quarter one holdings, Uniqlo announced an anticipated expansion of 400 to 500 this year, with a focus in North America. Uniqlo’s success can be attributed to its unique offerings to the Western retail market. Despite the name of Fast Retailing, Uniqlo prides itself on the year long production princess behind their pieces, while still offering affordable prices. This has allowed Uniqlo to break into this industry while competing against competitors like Zara and H&M whose product rollout takes less than a month.