Avon Japan seeks to relist in Tokyo as Back in Profit

Avon Japan seeks to relist in Tokyo as Back in Profit

The Japanese arm of Avon Products is working to relist in Tokyo, according to a report published by Bloomberg.

The owner of the Japanese direct sales business, Keystone Partners, hopes to boost profits to give Avon Japan a market value of ¥10 billion, and could offer shares as early as March 2018. The company is targeting annual sales of ¥20 billion and a profit of ¥1 billion

“M&A is needed for this business,” said Tomoaki Tsutsumi, Keystone Co-CEO and President of Avon Japan. “Without the ability to raise funds, M&A isn’t possible, so this is an industry where listing is the really the right thing to do.”

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