THE WHAT? Marubeni has announced that it has sealed a capital allowance deal to underwrite a third-party allotment of new shares by Osaji. The Japanese firm will invest some ¥1 billion in Osaji, which was spun off from Nitto last month.
THE DETAILS According to a report published by Nikkei Asia, the company plans to expand Osaji’s sales channels in Southeast Asia and Osaji will pile the new funds into the construction of a plant in the region.
THE WHY? Marubeni is hoping to transform its cosmetics business into a mainstay of its operations with at least three to four acquisitions per year, Nikkei Asia reports. Southeast Asia’s cosmetics market is growing by approximately 10 percent a year, making the region an attractive target for Marubeni.