TOKYO, Dec. 11, 2015 -- Ryohin Keikaku Co., Ltd. (Tokyo; Satoru Matsuzaki, President & Representative Director) today announced that the company has received approval from the Indian Foreign Investment Promotion Board (FIPB) for its application for Foreign Direct Investment (FDI) in the joint venture in the Republic of India.

As announced on June 17, 2015 Ryohin Keikaku has been preparing to establish the joint venture with Reliance Brands Limited (Mumbai, India; Darshan Mehta, President & CEO). FIPB gave its approval for FDI on December 10, 2015 marking the first time ever that a Japanese retailer to receive approval for FDI in India.

Ryohin Keikaku plans to establish a local entity and open new retail stores in India by the end of 2016.