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Uniqlo sits on $10bn pile of cash -- with no plans for acquisitions

Instead, Fast Retailing seeks to open stores and increase online sales

Uniqlo operator Fast Retailing is now a 2.3 trillion yen business with stores all around the world.  (Photo by Tsuyoshi Tamehiro)

TOKYO -- Fast Retailing has accrued 1.12 trillion yen ($10.1 billion) in cash holdings, more than tripling its stockpile in five years, but the Uniqlo operator does not plan to spend money on acquisitions.

The clothing giant prides itself on being a disrupter. But now an established giant in the apparel industry, it faces the risk of becoming yet another Japanese company under fire for hoarding funds at the expense of capital efficiency, straying from the vision of its founder.

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