Japanese retail group Fast Retailing is to establish a joint venture with Mitsubishi Corporation with a view to developing its Uniqlo's business in Thailand.

The joint venture will launch a first Uniqlo Thailand store in the autumn of 2011, with more stores in the country to follow.

Since expanding into Asia in 2002, Uniqlo has rolled out a network of stores to China, Hong Kong, Singapore, Malaysia and Taiwan. As of February 2011, the chain was operating 132 stores across the region.

Mitsubishi has been developing a wide range of businesses in Thailand since 1954, investing in approximately 100 companies in fields including machinery, metals and food.