Shiseido Company, Limited (the “Company”) 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”).
JV for Growth & Development
The transaction was originally announced on 3 February 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”).
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”).
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.
Source: Shiseido