L'OREAL gains 100% ownership of its Japanese business

L'OREAL, which currently holds 96.8 % of its Japanese subsidiary NIHON L'OREAL KK, has reached an agreement to acquire the remaining shares before 2003.

These shares are currently owned by the minority shareholder KOSE CORPORATION and represent 3.2 % of L'OREAL's Japanese subsidiary.

This transaction, which completes the general agreement reached on March 1995, totals 8.863 billion yen.