[By NBC-1TV H. J Yook]Shiseido (www.shiseidogroup.com) (TOKYO:4911) has concluded a joint venture agreement with PT Sinar Mas Tunggal, a group company of the Indonesian conglomerate, Sinar Mas Group. Shiseido Co., Ltd. and the Sinar Mas Group will hold equity shares of 65% and 35%, respectively of the newly established PT Shiseido Cosmetics Indonesia.
Business operations are scheduled to commence in July 2014.

In the Indonesian market, which offers high growth potential, Shiseido will strive to boost sales not only by continuing to foster its SHISEIDO global brand promoted around the world, but also by stepping up focus on the masstige* market. This sector is the largest cosmetics market zone and is anticipated to maintain strong growth.

* Masstige, coined from “mass” and “prestige,” refers to a category that is “more expensive than mass-produced products, but more moderately priced compared to prestige products.”