Maruho and KOSÉ Establish a Jointly Owned Company
Osaka (Japan), July 31, 2019 - Maruho Co., Ltd. ("Maruho" President & CEO: Koichi Takagi, Headquarters: Kita-ku, Osaka) announces that the board of directors approved a resolution to establish the jointly owned company "KOSÉ Maruho Pharma" with KOSÉ Corporation ("KOSÉ" President & CEO: Kazutoshi Kobayashi, Headquarters: Chuo-ku, Tokyo). The establishment of this company is based on the agreement with KOSÉ announced on January 31, 2019.
1. Reason for the establishment of KOSÉ Maruho Pharma
KOSÉ Maruho Pharma will perform planning, development, marketing and sales activities for consumer healthcare products in the markets of over-the-counter drugs, quasi-drugs and cosmetics by using the value of both Maruho's pharmaceutical knowledge and KOSÉ's cosmetics knowledge. The new company will also function as a platform for planning a variety of other activities for the long-term success of this alliance between Maruho and KOSÉ.
2. Profile of KOSÉ Maruho Pharma
|(1) Corporate Name||KOSÉ Maruho Pharma Co., Ltd.|
|(2) Location||3-6-2, Nihombashi, Chuo-ku, Tokyo, Japan|
|(3) Representatives||President & CEO: Hidenori Takahashi (from KOSÉ)
Executive Vice President: Yasutomo Nishimori (from Maruho)
|(4) Scope of Business||Planning, development, marketing and sales of over-the-counter drugs, quasi-drugs and cosmetics|
|(5) Capital||10 million yen|
|(6) Date of Establishment||July 31, 2019|
|(7) Shareholding ratio||KOSÉ Corporation: 51%
Maruho Co., Ltd.: 49%
|(8) Fiscal Year End||December|
3. Effect on Business Results
The effect of the establishment of KOSÉ Maruho Pharma on Maruho's consolidated financial results will be minor.