Shiseido Completes Transfer of Personal Care Business

Shiseido Company, Limited has released a notice regarding the completion of the transfer of the personal care business (in Japan, etc.) and the start of joint venture business operation.

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The notice stated:

• 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.