Yesterday, Kirin Holdings Company, Limited (Kirin Holdings) has announced a leadership change at FANCL CORPORATION. Kirin Holdings said this move was a part of its strategy to strengthen the Health Science domain under the Kirin Group Vision 2027 (KV2027).
Effective December 20, 2024, Hideki Mitsuhashi, currently a Senior Executive Officer at Kirin Holdings, will assume the role of President & Representative Director of FANCL CORPORATION. This move aligns with Kirin’s goal of enhancing FANCL’s business value and fostering greater collaboration between Kirin Holdings, FANCL, and Blackmores, Australia.
The appointment reflects Kirin’s commitment to building one of the largest health science companies in the Asia-Pacific region, addressing health issues through innovation and R&D. Hideki Mitsuhashi brings extensive leadership experience, including roles across Kirin’s global operations.
Outgoing President Kazuyuki Shimada will step down from his current role and transition to a Special Advisor position at Kirin Holdings.
In September, Kirin Holdings has successfully completed its tender offer to make FANCL Corporation a wholly-owned subsidiary with transaction value of 230 billion yen ($1.5 billion).
According to Fancl Group’s latest financial report, in the second quarter of fiscal year 2024, Fancl’s net sales reached 26 billion yen ($169 million), a year-on-year decrease of 4.1%. Specifically looking at the cosmetics business, Fancl Group’s main cosmetics brands currently include FANCL, ATTENIR, and boscia. Among them, the net sales of the Fancl brand reached 10.679 billion yen ($69.4 million), a year-on-year decrease of 4.2%.
