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Shiseido to acquire Hong Kong subsidiary

Last updated on 12-May-2010 at 12:57 GMT2010-05-12T12:57:52Z

Japanese cosmetics player Shiseido is set to wholly acquire its subsidiary in Hong Kong for 500m HK$ (€50m).

According to the company, the acquisition of the remaining 50 per cent stake in Shiseido Dah Chong Hong Cosmetics (SDC) is designed to enhance the company’s business in China.

Through SDC, Shiseido supplies Shiseido and non-Shiseido brand cosmetics in Hong Kong, Macau and mainland China.

Shiseido said the effect of the acquisition on consolidated net earnings is expected to be minor as the percentage of SDC net sales accounted for just less than 2 per cent of consolidated net sales for annual 20089.

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