THE WHAT? Japanese investment firm Mitsui & Co is set to invest in Kao’s Brazilian subsidiary, with a view to expand the skincare business in the country.
THE DETAILS The two companies signed a Quota Subscription Agreement, with the arrangement expected to go into effect in April 2023 following CADE (Brazilian antitrust) approval.
As per the partnership, the investment ratio will be 70 percent and 30 percent for Kao and Mitsui respectively.
THE WHY? The collaboration will see Kao and Mitsui working together in beauty and personal care, with a focus on emerging economies.
Likewise, Kao aims to increase its focus on its skin care business, also working with outside partners.