Shiseido : Notice Regarding Completion of the Transfer of the Personal Care Business (in Japan, etc.) and Start of Joint Venture Business Operation
July 01, 2021 at 02:06 am EDT
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• The part of the Business operating in Japan has been transferred through absorption-type corporate splits to a newly established company (Fine Today Shiseido Co., Ltd.; hereafter 'Fine Today Shiseido').
• On the same date, all of the outstanding shares of Fine Today Shiseido have been transferred to Oriental Beauty Holding Company, Limited ('OBH'), financed by funds advised by CVC Capital Partners ('CVC').
• On the same date, the Company has acquired 35% of the shares of K.K. Asian Personal Care Holding, which is the wholly owning parent company of OBH and will operate the Business after the transfer, therefore establishing a joint venture aimed at operating the Business and supporting its further growth in cooperation with CVC.
Regarding the transfer of the Business in each country and region overseas, procedures for succession from each of the Company's subsidiaries to the respective OBH subsidiaries will be executed henceforth through asset transfers, etc., in accordance with local laws.
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Shiseido Co. Ltd. published this content on 01 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 July 2021 06:05:36 UTC.
Shiseido Company, Limited specializes in the design, manufacturing and marketing of cosmetics. The group offers beauty products (including makeup items, coloring, etc. ; Shiseido, Aupr's, DQ, Za, Revital Granas, B?n?fique, Maquillage and Elixir), skin care products (skin creams, bath and shower gels, shampoos, etc. ; Aqua Label, Integrate, Tsubaki and Uno), perfumes (Issey Miyake, narciso Rodriguez, Elis Saab and Azzedine Ala?a) as well as professional products (Joico, Decl?or and Carita).
Net sales are distributed geographically as follows: Japan (32.9%), China (25.6%), Asia and Oceania (6.4%), Europe/Middle East/Africa (10.3%), Americas (9.9%) and other (14.9%).