Acquisition of Vietnam Factory Manufacturing Personal Care Products
As previously announced in a press release dated August 1, 2022*1, FineToday Holdings Co., Ltd. (FTHD, Head Office: Minato-ku, Tokyo; Representative Director, CEO: Tetsuo Komori) has acquired Shiseido Vietnam Inc. (SVI), the Vietnam Factory operator and a wholly owned subsidiary of Shiseido Company, Limited (Shiseido). The acquisition took effect on December 1, 2023.
*1 Press release of August 1, 2022:Notice Concerning Acquisition of Shiseido's Personal Care Product Production Business
■Acquisition background
FTHD began operations in July 2021 with the objective of managing Shiseido's personal care product business. The starting point and purpose of our enterprise are "to enrich the lives of everyone today and for generations to come, one fine day at a time." Since inception, FTHD has been working on building a business system that integrates technology development, manufacturing and sales. Our aim is to be an autonomous manufacturer that flexibly provides a wide range of products tailored to local market needs.
To achieve this aim, FTHD signed an agreement with Shiseido on August 1, 2022, over the transfer of Shiseido's personal care product manufacturing segment*1. Under the agreement, Shiseido's personal care product manufacturing segment operating at its Kuki Factory in Saitama was acquired by FTHD on April 1, 2023. Operations were relaunched under the name Fine Today Industries Co., Ltd. (FTI)*2.
The SVI acquisition has allowed the FineToday Group to finish accomplishing its goal of creating a comprehensive system for technology development, manufacturing and sales. The system will give the Group a more flexible and rapid method of providing Asian consumers with everyday beauty products designed to give consumers the lives of beauty and abundance called for by FTHD's business purpose statement.
*2 Press release of April 3, 2023:Notice Concerning the Start of Personal Care Product Business Operation by a New Group Company
■Acquisition aims
Seeking to become a role model for glocal companies in Asia, the Group does business in Japan, China and the APAC (Asia-Pacific) region. To step up the pace of balanced growth in these markets, the Group is looking to create synergy in the years ahead by creating a two-region manufacturing system that makes the most of the geographical locations and strengths of SVI and FTI. The FineToday Group's comprehensive system of technology development, manufacturing and sales will be used as a way to work on sustainability-oriented business growth through integrated supply chain optimization.
The Group is also working on providing localized products carefully designed to accommodate the needs and cultures of the Islamic world and markets throughout the APAC region. For example, SVI acquired Halal Certification in 2012, and some products have also received the same certification.
■About SVI
| Company name |
Shiseido Vietnam Inc. * Company name will be changed in future (date not determined). |
| Location | Amata Industrial Park, Bien Hoa, Dong Nai, Vietnam |
| Site Area | Approx. 70,000 m2 |
| Representative |
Hiroto Morozumi (General Director, Legal Representative) * As soon as the necessary procedures with the authorities are completed, Jun Kamihigashi is scheduled to assume the position of general director (legal representative) as the administrator of the local subsidiary. |
| Business areas | Manufacturing of personal care products, etc. |
| Major Shareholder and Shareholding Ratio | FineToday Holdings Co., Ltd. (100%) |
■SVI's history
SVI started operating as a Shiseido business unit in 2009. It is a manufacturing base for Japan and other Asian markets. Applying strict manufacturing and quality control, the company focuses on manufacturing of personal care products such as Uno and Senka (an APAC-only product line).
It has also taken steps to ensure its operations are environmentally friendly, and in 2011 was certified under the ISO 14001 international standard for environmental management systems.
【Reference: Factory exterior】
