Bain Capital to Acquire Full Ownership of FineToday Holdings from CVC Asia V in Strategic Transaction for Leading Japanese Beauty Company

Bain Capital to Acquire Full Ownership of FineToday Holdings from CVC Asia V in Strategic Transaction for Leading Japanese Beauty Company

(IN BRIEF) CVC Capital Partners and Bain Capital have agreed that Bain Capital will acquire 100 percent of FineToday Holdings from CVC Asia Fund V and other shareholders, making Bain Capital the sole owner of the Japanese personal care and beauty company. FineToday, which was carved out from Shiseido in 2021, has since grown into a strong standalone business with well-known brands such as TSUBAKI, fino, SENKA, uno, AG DEO24, and KUYURA, and an expanding presence across Asia. CVC highlighted FineToday’s consistent annual growth and successful transition to independence, while FineToday’s CEO welcomed Bain Capital as a new strategic partner and described the deal as an endorsement of the company’s platform and performance. Bain Capital indicated that it will leverage its retail and consumer expertise to further accelerate FineToday’s growth across Japan, Asia, and beyond, while CVC expressed confidence that the company could pursue an IPO in the coming years under Bain’s ownership.

(PRESS RELEASE) LUXEMBOURG, 2-Feb-2026 — /EuropaWire/ — CVC Capital Partners and Bain Capital have announced that they have reached a definitive agreement under which Bain Capital will acquire all outstanding shares of FineToday Holdings Co., Ltd. (“FineToday”). The transaction will see Bain Capital purchase the company from majority owner CVC Asia Fund V, alongside other existing shareholders, resulting in Bain Capital becoming the sole owner of FineToday upon completion.

FineToday is a leading personal care and beauty company with a broad portfolio of well-recognized brands in Japan and across Asia. Its product lineup includes prominent hair care brands such as TSUBAKI, fino, and the recently introduced +tmr, as well as skincare brands SENKA and uno. The company also markets body care products under labels including AG DEO24 and KUYURA. While FineToday maintains a particularly strong market position in Japan, it has also expanded its commercial presence into key Asian markets, including China and various countries in Southeast Asia.

In 2021, CVC Asia V completed the carve-out of FineToday from Shiseido, establishing it as an independent business in a complex separation process conducted on a bilateral basis. Since becoming a standalone company, FineToday has undergone a significant transformation under CVC’s ownership. With the guidance of its management team, the company has strengthened its organizational structure, accelerated product development, and broadened its international reach, particularly through sustained growth in Southeast Asia and other regional markets.

Tetsuo Komori, Chief Executive Officer of FineToday, expressed appreciation for CVC’s role in the company’s development, noting that the firm had been a committed partner since its initial investment in 2021. He highlighted that together they had successfully built FineToday into a fully integrated daily beauty company with robust capabilities in research and development, manufacturing, marketing, and sales. Komori also welcomed Bain Capital as a new shareholder and strategic partner, stating that the transaction serves as a strong validation of FineToday’s business model, growth prospects, and consistent performance.

Atsushi Akaike, Managing Partner at CVC and Co-Head of CVC Japan, reflected on the firm’s involvement in FineToday’s separation from Shiseido, describing the process as highly complex and long in preparation. He emphasized that since becoming independent, FineToday has delivered steady annual sales and profit growth of approximately 10 percent, even during the challenging conditions of the COVID-19 pandemic. Akaike extended his gratitude to FineToday’s management team, employees, and Shiseido for their contributions to establishing the company as a strong standalone entity capable of passing the Tokyo Stock Exchange listing review.

He further noted that CVC had worked closely with FineToday’s leadership to build a solid foundation for long-term growth. Although plans for an initial public offering had been temporarily postponed due to geopolitical uncertainties, Akaike expressed confidence that under Bain Capital’s ownership, FineToday would still pursue an IPO within the coming years and continue its development as a Japan-based company with a broader pan-Asian footprint. He also reaffirmed CVC’s continued support for FineToday as it moves into its next phase.

Naofumi Nishi, Partner at Bain Capital, stated that Bain Capital is enthusiastic about supporting FineToday’s continued expansion. He pointed to the company’s strong brand portfolio, consumer trust, and proven product development capabilities as key strengths. Nishi explained that Bain Capital intends to draw on its experience in the retail and consumer sectors to help FineToday accelerate growth not only in Japan and Asia but also in other global markets.

Media Contact:

Patrick Humphris
Managing Director, Head of Corporate Affairs
CVC
Tel: +44 204 576 9526
phumphris@cvc.com

SOURCE: CVC Capital Partners