Jul. 1, 2021
Management / Financial Result
Notice Regarding Completion of the Transfer of the Personal Care Business (in Japan, etc.) and Start of Joint Venture Business Operation
Shiseido Company, Limited (the “Company”) hereby notifies that today, it has completed the following procedures as part of the transaction related to the Personal Care business owned by the Company and its subsidiaries (the “Business”). The transaction was originally announced on February 3, 2021 in the “Notice of Company Split (Simple Absorption-type Split) and Other Changes Accompanying the Transfer of the Personal Care Business.”
• 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.
About “Fine Today Shiseido”
Fine Today Shiseido Co., Ltd.
3-1, Hamamatsu-cho 2-chome, Minato-ku, Tokyo
-Representative’s name and position
Tetsuo Komori, Representative Director, President and CEO
-Main business activities
Marketing and sales of personal care products
-Date of establishment
May 18, 2021
-Major shareholders and their shareholding ratios
K.K. Oriental Beauty Holding: 100%
About “Fine Today Shiseido”
Fine Today Shiseido will conduct marketing and sales of personal care products
including skincare and hair care products. In the hope to support people around the world to say, “Today is a wonderful day,” the company is named and its corporate symbol and logo set with the intention of delivering rich brand experiences via beauty,thoughtfulness, and exciting ideas and innovations. The company will accelerate innovations through strengthening brand development and global expansion, and promoting DX initiatives, while maximizing investment in people and organizations,and strive to be a company that contributes to the further development of the industry.
*The content of the release is correct as of the time of release, but please note that it may in some cases differ from the latest information.