Marubeni Corporation plans to increase its stake in Karmarts Public Company Limited to enhance its influence and support Karmarts' expansion in the thriving Thai beauty market.

Target Information

Marubeni Corporation has announced its intention to make an additional investment in Karmarts Public Company Limited, a prominent beauty and personal care brand listed on the Stock Exchange of Thailand. Currently, Marubeni holds an 18% equity interest in Karmarts and plans to acquire up to an additional 10% of the company's shares through a partial tender offer (PTO), valued at THB 1.25 billion (approximately JPY 6.0 billion). The PTO is scheduled for February 2026 and will proceed if the tender applications meet the minimum requirement of 4.5% or more.

Since Marubeni first invested in Karmarts in October 2023, it has played a significant role in enhancing Karmarts' business operations, focusing on capital and business alliances and pursuing international expansion strategies. Karmarts is demonstrating robust growth, evidenced by its investment in 4U2 CO Co., Ltd., a brand that resonates well with Generation Z consumers in Thailand, highlighting its commitment to staying relevant in the fast-evolving beauty sector.

Industry Overview in Thailand

The beauty and personal care industry in Thailand is thriving, characterized by a diverse range of products and a growing consumer base that increasingly prioritizes quality and brand experience. The market has been bolstered by the rise in disposable inco