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Shiseido To Start Indonesian Venture

December 3, 2013

JAPAN: Shiseido plans to set up a joint venture in Indonesia with Sinar Mas group, whose interests include palm oil, paper and pulp, and real estate, according to a report from the Nikkei.

The business will be established next month. The partners are still negotiating capitalization, but Shiseido is expected to hold a 65% stake, according to the report.

Sinar Mas has imported Shiseido and Cle de Peau Beaute brands from Japan, offering them in Indonesia as a sales agent.

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