The Japanese arm of Avon Products is working to relist in Tokyo, according to a report published by Bloomberg.

The owner of the Japanese direct sales business, Keystone Partners, hopes to boost profits to give Avon Japan a market value of ¥10 billion, and could offer shares as early as March 2018. The company is targeting annual sales of ¥20 billion and a profit of ¥1 billion

“M&A is needed for this business,” said Tomoaki Tsutsumi, Keystone Co-CEO and President of Avon Japan. “Without the ability to raise funds, M&A isn’t possible, so this is an industry where listing is the really the right thing to do.”