Pola Orbis : Establishment of New Subsidiary and Launch of New Business (Aesthetic Medicine-related Field)
October 10, 2023 at 02:06 am EDT
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October 10, 2023
Company Name:
POLA ORBIS HOLDINGS INC.
Representative:
Yoshikazu Yokote,
Representative Director and President
TSE Code:
4927 (Prime Market)
Contact:
Naotaka Hashi, Corporate Officer,
General Manager, Corporate
Communications Div.
TEL.: +81-3-3563-5517
Establishment of New Subsidiary and Launch of New Business (Aesthetic Medicine-related Field)
POLA ORBIS HOLDINGS INC. (the "Company") hereby announces that it will establish a new business subsidiary to launch a new business, aiming to develop its business in the aesthetic medicine-related field as follows:
1. Reasons for establishing new subsidiary and launching new business
In the years leading up to 2029, the POLA ORBIS Group's 100th anniversary, the Group is working toward becoming a collection of unique businesses that respond to diversifying values of "beauty," as stated in VISION 2029. We have set its three basic strategies as "develop the cosmetics business globally; reform and enhance the brand portfolio," "create new value and expand business domains," and "strengthen research and technical strategy." One of the pillars of our strategies is to expand our business portfolio with the aim to provide value through means not limited to cosmetics alone.
As the values of people and society grow increasingly diverse, we recognize a growing segment of users who do not make a clear distinction between cosmetics/beauty services and medical services. We believe that, going forward, the ideal situation for people would be to have a free and active choice of the beauty methods that suit them best.
Against this backdrop, we have decided on this occasion to establish a subsidiary that will conduct new business in the form of an independent organization, separate from our existing cosmetics brands. This new subsidiary will start conducting business in the aesthetic medicine-related field as a new measure to utilize the Group's dermatology research findings. During the next medium-term management plan, which begins in 2024, we will start providing significant new value in new business domains in full scale.
2. Overview of new business (to be launched in January 2024)
Development of aesthetic medicine-related products and services based on the evidence produced by the Group's research centers
Supplying clinics such as dermatology clinics with aesthetic medicine-related products and services through the new business subsidiary
3. Overview of the subsidiary that will engage in this new business
(1)
Company Name
POLA MEDICAL INC.
(2)
Address
560 Kashio-cho,Totsuka-ku,Yokohama-shi, Kanagawa
(3)
Name and Title of
Noriko Suenobu, Representative Director and President
Representative
Research and development in the dermatology and aesthetic
(4)
Description of Business
medicine-related fields, manufacturing and sale of deliverables, sale
of cosmetics, etc.
(5)
Amount of Capital
JPY 100 Million
(6)
Date of Establishment
August 2023
(7)
Major Shareholder and
POLA ORBIS HOLDINGS INC. 100%
Shareholding ratio
(8)
URL
https://polamed.co.jp/
4. Impact on business results
The impact on consolidated business results for fiscal 2023 will be minimal. The Company will promptly disclose information if any revisions to business forecasts become necessary, or if any other matters which require disclosure arise.
Note: The impact on the consolidated financial results is estimated based on the information available today and the actual impact may differ due to various changes of situation in the future.
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POLA ORBIS Holdings Inc. published this content on 10 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 October 2023 06:05:51 UTC.
POLA ORBIS HOLDINGS INC. is a Japan-based holding company mainly engaged in the development, manufacture and sale of cosmetics. The Company operates through two business segments. The Beauty Care segment is engaged in the manufacture and sale of cosmetics, health foods, as well as sales of fashion items including ladies' underwear, women's clothing and jewelry. The brand includes POLA, ORBIS, ORLANE, DECENCIA, THREE, H2O, PLUS, Jurlique and other. The Real Estate segment is engaged in leasing of real estate properties, including office buildings and condominium. The other business is engaged in medical business and building maintenance business.