According to media reports, private equity firm Carlyle Group has begun the sale process of Japanese cosmetics supplier Tokiwa Corp in a deal that could value the company at USD 800 million, an amount significantly lower than the 1 billion euros initially estimated by Carlyle.

The identity of the potential buyers has not been disclosed. However, the list would include private equity firms and companies in the cosmetics industry, sources with knowledge of the matter told Reuters.

Carlyle invested an undisclosed amount in Tokiwa in 2019, with the stated objective of establishing the Japanese company as a global leader in the cosmetics manufacturing industry.

Claiming to be the leading OEM beauty company in Japan, Tokiwa has more than 400 patents and production and research and development capabilities in Japan, the USA, and China.