Fast Retailing Co <9983.T>, Asia's largest clothing chain, is interested in buying a larger rival in the United States or Europe, as a stronger yen has boosted the Japanese company's purchasing power, Bloomberg said on Sunday.

The yen strength and anemic stock markets make this a very good opportunity for M&A, Chief Executive Officer Tadashi Yanai, 62, said in an interview on Friday in Tokyo, Bloomberg said. It won't be something small, but a company of equal size or bigger.

Fast Retailing, which opened two New York stores in October, aims to be the world's top clothing retailer, with a target of boosting sales sixfold from last year to 5 trillion yen ($64 billion) by 2020, the report said.

(Reporting by Ransdell Pierson)