We are pleased to announce that CHITOSE Group, leading the bioeconomy, has successfully raised 7 million USD(1) through a third-party allotment of shares with Shiseido Company, Limited as the underwriter. In doing so, CHITOSE and Shiseido have entered into a strategic collaboration agreement(2).

Shiseido has been participating in MATSURI since April 2022, aiming to create a sustainable world where everyone can enjoy a lifetime of happiness through the power of beauty. Through this partnership, CHITOSE and Shiseido will accelerate the development and mass-production of cosmetic ingredients and containers using microalgae, and further explore the development of ingredients that can be used in future food businesses. Through the activities of MATSURI, CHITOSE and Shiseido aim to lead the creation of a circular economy through sustainable value creation, revitalizing the global cosmetics market.

*1：Funding is provided by CHITOSE BIO EVOLUTION PTE. LTD. which is the controlling corporation of the Chitose Group.
*2: The strategic collaboration agreement was executed by Chitose Institute Corporation, the core corporation of the Chitose Group.

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