The Pola Orbis Group has decided to dissolve and liquidate Orbis Beijing as part of its VISION 2029 initiatives.WHO: Launched in 2008, Orbis Beijing was tasked with overseeing the mainland China business of Orbis, part of Pola Orbis. In November, the company established a new subsidiary based in Japan to oversee its China business. Pola Orbis is one of the leading Japanese beauty conglomerates that develops, manufactures, and markets cosmetics products with a strength in skincare. Under its multi-brand strategy, the group holds Pola, Orbis, Three, and Jurlique, in addition to Pola Chemical Industries, the R&D company for the group. WHY:  As part of its local strategy in mainland China, the group has decided to liquidate Orbis Beijing and adopt a policy of concentrating resources on other brands. Going forward, the group intends to focus on brands and regions where more stable growth is expected, in order to achieve sustainable growth in its global business.IN THEIR OWN WORDS: In a press release, the company said, “With the Chinese economy stagnating and competition in the e-commerce market becoming increasingly intense, it is difficult to foresee an immediate improvement in profitability, and the group has been compelled to reduce the scale of business.”DETAILS:Orbis Beijing will be dissolved and liquidated by the end of fiscal 2025.The decision is expected to result in a special loss of approximately ¥1.3 billion ($9 million) while generating tax savings of around ¥1.6 billion ($11.1 million) in its consolidated financial statements for the fiscal year ending December 2025.