Shiseido Co., Ltd., a major cosmetics company, announced that it will sell its business division of daily necessities such as shampoos and facial cleansers, which are mainly produced for mass retailers, to CVC Capital Partners, a foreign investment fund.
The sale amount is 160 billion yen, and the aim of this business sale is to concentrate management resources on high-priced cosmetics.
Shiseido will continue to be involved in the operation as a shareholder of the new company in the daily necessities business, which will be established after the sale of the business.