Shiseido : (Update on the Previous Disclosure) Notice Regarding Completion of the Transfer of the Personal Care Business and Start of JV Business Operation
July 01, 2021 at 11:36 am IST
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(Translation)
July 1, 2021
Name of Company:
Shiseido Company, Limited
Name of Representative:
Masahiko Uotani
President and CEO
(Representative Director)
(Code No. 4911; The First Section of the Tokyo Stock Exchange)
Contact:
Harumoto Kitagawa
Vice President
Investor Relations Department (Tel: +81 3 3572 5111)
(Update on the Previous Disclosure)
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"
Trade name
Fine Today Shiseido Co., Ltd.
Location
3-1,Hamamatsu-cho2-chome,Minato-ku, Tokyo
1
Representative's
Tetsuo Komori, Representative Director, President and CEO
name and position
Main business activities
Marketing and sales of personal care products
Capital
300,010,000 yen
Date of establishment
May 18, 2021
Settlement term
December 31
Major shareholders and
K.K. Oriental Beauty Holding: 100%
their shareholding ratios
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.
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%).
Shiseido : (Update on the Previous Disclosure) Notice Regarding Completion of the Transfer of the Personal Care Business and Start of JV Business Operation