WonderCorporation agreed to acquire remaining stake in Shinseido Co., Ltd. for approximately ¥520 million.
The transaction is subject to approval from the shareholder of Shinseido in the extraordinary meeting to be held on January 26, 2016. Shinseido established an independent committee composed of Hidetaka Nishina, Tetsuya Sano and Sadayoshi Suzuki. As of January 26, 2016, the deal was approved by the shareholders of Shinseido. The transaction is expected to close by February 23, 2016. Sato Sogo Law Office acted as legal advisor and Nomura Securities Co., Ltd. acted as financial advisor for WonderCorporation. Anderson Mori & Tomotsune acted as legal advisor and Yamada FAS Co., Ltd. acted as financial advisor for Shinseido.