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Fast Retailing : Signs Microfibre 2030 Commitment - International initiative to minimize the impact of microfibers on the natural environment

09/28/2021 | 02:12am EST

Last Updated: 2021.09.28

Fast Retailing Co., Ltd.
to Japanese page

Fast Retailing Co., Ltd. today announces that it has signed the Microfibre 2030 Commitment, a new global initiative to minimize the impact of microfibers on the natural environment. The Microfibre 2030 Commitment was established by The Microfibre Consortium (TMC), a non-profit, international cross-industry group working to address the problem of fiber fragmentation from clothing textiles. The Commitment aims to eliminate the environmental impact from microfibers, with 250 companies joining as signatories by 2030. These companies will conduct tests on their products and manufacturing processes, and contribute data to build an industry-wide database and assessment system. The objective is to have 80% of member companies adopt research-based microfiber standards in their products and manufacturing processes, so that the release of microfibers into the environment is appropriately managed.

Fast Retailing will conduct prescribed fabric testing annually through 2023 and provide the data to TMC. This will be combined with data from member companies in a database, and used to develop tools and resources for the entire industry to achieve the Commitment. Fast Retailing will utilize this data and knowledge to implement measures to limit microfibers from its products and manufacturing processes and, by expanding best practices to the industry as a whole, contribute to achieving the Commitment.

Fast Retailing considers the environmental impact of microfibers to be a priority issue. Going forward, the company will continue to work with the industry and enhance measures to minimize the release of microfibers into the environment throughout the product lifecycle. Fast Retailing first joined TMC as an Associate Member in September 2019.

About the Microfibre Consortium
The Microfibre Consortium (TMC) is a cross-industry, membership nonprofit organization that facilitates the development of practical solutions for the textile industry to minimize fiber fragmentation and release of fibers to the environment from textile manufacturing and product life cycle. With a vision that states "A future with managed fiber fragmentation and release from textiles to the environment," TMC supports the use of production processes backed by academic research, providing manufacturing plants, retailers, and suppliers with concrete solutions that protect ecosystems.

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Fast Retailing Co. Ltd. published this content on 28 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 September 2021 06:11:01 UTC.

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Sales 2022 2 266 B 19 962 M 19 962 M
Net income 2022 189 B 1 665 M 1 665 M
Net cash 2022 612 B 5 392 M 5 392 M
P/E ratio 2022 36,8x
Yield 2022 0,78%
Capitalization 6 932 B 61 030 M 61 078 M
EV / Sales 2022 2,79x
EV / Sales 2023 2,45x
Nbr of Employees 55 589
Free-Float 51,4%
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Technical analysis trends FAST RETAILING CO., LTD.
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Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 13
Last Close Price 67 860,00 JPY
Average target price 80 567,23 JPY
Spread / Average Target 18,7%
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Tadashi Yanai Chairman, President & Group CEO
Takeshi Okazaki CFO, Director & Group Senior Executive Officer
Masaaki Shintaku Independent Outside Director
Toru Hambayashi Independent Outside Director
Nobumichi Hattori Independent Outside Director
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