By  on October 2, 2009

LONDON - Burberry said it expects to boost operating profits by 4 million pounds, or $6.4 million at current exchange, in the year ending March 2010 after re-negotiating its Japanese apparel license with two local partners.
   
The company said it had drawn up a new agreement with its current licensees Sanyo Shokai Ltd. and Mitsui & Co. Ltd. The new deal foresees higher royalty payments than previously planned for the 2009-10
fiscal year, and fewer years on the license. Burberry's agreement will now expire in June 2015 rather than 2020.

“Japan is a strategically important market for Burberry, where we continue to review all opportunities available to us,” said chief executive Angela Ahrendts.

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