TOKYO: Japanese cosmetics maker Shiseido Co. said Friday it is considering selling its personal care goods operations, including the “TSUBAKI”-brand hair care product business, to CVC Asia Pacific Ltd., a unit of European investment fund CVC Capital Partners.

The sale price is likely to be around 150 billion yen.

Shiseido aims to complete the business transfer by the end of June.

In the year to December 2019, the company reported sales of some 100 billion yen in the division of personal care items, also including low-priced cosmetics sold at drug stores and “uno”-brand hair care and skin care products for men.

Faced with a fall in demand from inbound tourists amid the coronavirus pandemic, Shiseido apparently hopes to concentrate its management resources on the luxury cosmetics business.

Shiseido plans to acquire an equity stake in the company that will operate the transferred business. CVC is expected to work on enhancing the values of the TSUBAKI and other personal care product brands.

JIJI Press