THE WHAT? Shiseido has given notice that it is transferring its manufacturing business of personal care products at its Kuki Factory and the Vietnam Factory.
THE DETAILS Through the transfer the company will support Fine Today Shiseido Co to build a management system that integrates manufacturing and sales, to ‘support the company’s sustainable growth, and realize the future development of both Kuki and Vietnam factories.’
Shiseido transferred its personal care business to FTS last year, a corporation indirectly financed by CVC Capital Partners. Following the transfer, the company helped operate the business as a shareholder of FTS’s wholly-owning parent company K.K. Asian Personal Care Holding in cooperation with CVC.
Shiseido says, “Since July last year FTS has made a good start as a new company, steadily increasing its business performance.
“In order for FTS to ensure this continuous growth, it is important to build a comprehensive management system that integrates manufacturing and sales, in which production and supply are performed at its own factory.”
The transfer of the manufacturing business will be carried out in the form of a transfer of shares of the Kuki factory after the company split from the Company, and a transfer of shares of the Vietnam factory.
THE WHY? All of the new domestic factories are responsible for skin beauty products manufacturing centered on the prestige and premium cosmetics business, under its medium-to long-term strategy, WIN 2023 and Beyond.