Japanese fashion retail giant Fast Retailing plans to accelerate growth in China and is set to open 62 additional stores in the country over a one year period. 

The retailer said it plans to open 62 stores over the year ended August 2012. 

The company expects to operate 142 stores by the end of August this year. At the end of 2011, there were 80 Uniqlo stores in China. Between August and February, it opened 33 stores to have 113 outlets.

The retailer also plans to open the first Uniqlo store in Philippines in June. The 1,500 sq metre store will offer products for women, men and children.

Greater China and neighbouring regions such as Hong Kong and Taiwan are key markets as their economies are growing and is well perceived by those countries, a spokesperson told just-style. "So, we would like to rapidly expand into those markets," he said.