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Mitsui & Co. to Invest in Kao's Brazil Subsidiary

March 2, 2023
March 2, 2023

Building on a historic tie-up for the sales and marketing of Kao’s Bioré skincare brand that began in 2017, Mitsui & Co. is investing in Kao Corporation’s wholly owned subsidiary in Brazil, TBP Importação e Comércio de Cosméticos, to expand business in Brazil.

WHO: Kao creates high-value-added products and services that provide care and enrichment for the life of all people and the planet through its portfolio of over 20 leading brands such as Attack, Bioré, Goldwell, Jergens, John Frieda, Kanebo, Laurier, Merries, and Molton Brown. Combined with its chemical business, which contributes to a wide range of industries, Kao generates about 1,550 billion yen in annual sales. Kao employs about 35,400 people worldwide and has 135 years of history in innovation.

Mitsui & Co., Ltd. is one of the largest sogo shosha in Japan; it is part of the Mitsui Group with seven Operating Segments and 16 Headquarters Business Units. They connect ideas, information, customers, partners, and businesses across the planet to create new business opportunities.

WHY: Kao and Mitsui have had a tie-up for sales and marketing of Kao's Bioré skincare brand since 2017, and have also carried out trial sales as part of market research. This research has indicated Brazilian consumers' strong acceptance of the Bioré brand, leading the two companies to become partners and begin sales in earnest. The companies will expand this business further, and products may be manufactured locally.


  • Mitsui & Co., Ltd. and Kao have signed a Quota Subscription Agreement under which 70% of the business will be owned by Kao and 30% by Mitsui. 
  • Kao and Mitsui plan to work together in the beauty and personal care sector in emerging economies exploring how they can further expand their partnership.

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