Sinar Mas Group has set up a joint venture company with Japan’s Shiseido Co Ltd, Chief Executive Franky Widjaja said in a statement.
Sinar Mas owns a 35 percent stake in the joint venture company, PT Shiseido Cosmetic Indonesia, while Shieseido owns the remaining 65 percent. Shiseido CEO Masahito Uotani said the firm will start operation in July 2014, with plans to develop a cosmetic factory in Indonesia. (Kontan)
Note: Reuters has not verified this story and does not vouch for its accuracy. (Compiled by Jakarta Newsroom; Editing by Anand Basu)