February 7, 2007
Kuraray Co., Ltd.
Kuraray Co., Ltd. announces the decision to sell the business conducted by its group company, Kuraray Family Products Co., Ltd., which markets consumer goods such as health foods and cosmetics, to a third-party health-foods company, SUPLIPLUSFAMILY Co., Ltd. Both parties have reached an agreement that the sale of the business will be executed on April 1, 2007.
Since 1986, Kuraray Family Products has marketed a variety of original consumer goods in the health foods and cosmetics fields. The company has no sales outlets, marketing their products based on a membership-oriented "Promoter System."
On the back of the increasingly intensifying competition in the health foods and cosmetics fields, Kuraray has decided to sell the business to a third party specializing in the health-foods field and withdraw from the industry due to lesser potential for business expansion and the generation of synergistic effects within the Kuraray Group. In principle, the employees of Kuraray Family Products will be transferred to the acquiring entity.
|Paid-in capital||¥30 million (indirectly capitalized 100% by Kuraray Co., Ltd.)|
|Annual Sales||Approx. ¥500 million|
|Paid-in capital||¥10 million|