TOKYO (Reuters) - Japan’s Fast Retailing, the operator of the Uniqlo casual-clothing chain, said on Tuesday it would set up a joint venture with Bangladeshi microfinance specialist Grameen Bank.
The joint venture will be based outside Japan, a Fast Retailing spokeswoman said, declining to reveal further details.
Fast Retailing President Tadashi Yanai and Grameen Bank managing director Muhammad Yunus will hold a joint news conference in Tokyo on Tuesday afternoon to announce the details, Fast Retailing said in a statement.
Fast Retailing shares were up 1.5 percent at 12,760 yen, outperforming the Nikkei stock average, which rose 0.2 percent.
Reporting by Yumiko Nishitani; Editing by Chris Gallagher
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