Notice of Change of Tokiwa Cosmetics Group Inc.'s Shareholder and Partnership with Nihon Kolmar Holdings Co., Ltd.Jun 6, 2024

All shares of Tokiwa Cosmetics Group Inc. (hereinafter referred to as our "Group") held by a fund managed by The Carlyle Group (hereinafter referred to as the "Carlyle Fund"), will be transferred to Nihon Kolmar Holdings Co., Ltd. (hereinafter referred to as " Nihon Kolmar HD"). Please note that this agreement is subject to the acquisition of licenses and approvals based on the Antimonopoly Act.

Our Group is a cosmetics contract manufacturer that has been in business for more than 70 years, specializing in the development and manufacturing of cosmetics. We possess excellent R&D and manufacturing capabilities backed by approximately 400 patents globally, along with a development system that integrates our formulation and packaging divisions. We currently supply products to renowned brands around the world, especially in the makeup field.

On the other hand, Nihon Kolmar HD, which has TOA Inc. (formerly known as Nihon Kolmar Co., Ltd.) as its core company, has been engaged in the cosmetics business for over a century since its founding in 1912, and is the largest contract manufacturing company for cosmetics in Japan.

The partnership between the two companies through this share transfer is highly complementary. Through this partnership, we will promote the development of competitive R&D, production, and sales systems not only in Japan but also in the global market, and will meet the expectations of all our business partners as a leading company in the global cosmetics contracting market.

About Nihon Kolmar HD
TOA Inc. (100% subsidiary), the core company under Nihon Kolmar HD, is outlined below.

[Company Overview]

Company nameTOA Inc.
Head Office17F, Nippon Life Yodoyabashi Building 3-5-29, Kitahama, Chuo-ku, Osaka, Japan
Representative nameYoshihide Kanzaki
BusinessContract cosmetics manufacturer *Please refer to our website ( for details.