Kirin Holdings is considering acquiring another overseas asset or increasing its investment in Blackmores if its bid to acquire skincare firm FANCL does not proceed as planned. Kirin's CEO, Yoshinori Isozaki, highlighted this during the company's H1 2024 financial results presentation, where the firm reported a 12.9% year-on-year revenue increase to JPY1.10tr (US$7.45bn) and a 78.9% rise in profit.
FANCL is seen as crucial for Kirin's health science business, with an increased takeover bid to JPY2,800 per share aimed at securing shareholder approval. Should the FANCL deal succeed, Kirin plans to enhance both its beauty-from-within and skincare portfolios. If not, the company may pursue overseas acquisitions or further invest in Blackmores, which has been a significant revenue driver in Kirin's health science segment, contributing nearly half of its JPY69.6bn (US$472.7m) revenue for the first half of 2024.
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