Mitsui to acquire Eu Yan Sang International Ltd, a leading Singapore-based consumer healthcare brand in Asia with Rohto.

Apr. 4, 2024

Main Contents

Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President and CEO: Kenichi Hori) has decided to acquire shares in Eu Yan Sang International Ltd ("EYS", Head Office: Singapore) jointly with ROHTO Pharmaceutical Co., Ltd. ("ROHTO", Head Office: Ikuno-ku, Osaka, President and CEO: Masashi Sugimoto) and others. Based in Singapore, EYS manufactures and sells traditional Chinese medicines.

A special purpose company ("SPC"), that is established in Singapore and will be jointly owned by Mitsui and Rohto, will acquire approximately 86% of the EYS shares from Righteous Crane Holding Pte. Ltd. ("RCH", Head Office: Singapore), pursuant to a conditional sale and purchase agreement ("SPA"). Upon fulfillment of the condition in the SPA, a takeover bid for the remaining 14% of EYS shares will be executed and the founding family of EYS will reinvest partially into the SPC (as part of management retention arrangements). Mitsui invested in EYS through a fund in November 2022 as an indirect investor. The existing interest in EYS through its fund holdings will cease as a result of RCH's sale of the EYS shares, and Mitsui will re-invest in EYS through the SPC, utilizing the proceeds from the above-mentioned sale. If the SPC is able to acquire 100% of the EYS shares from RCH and under the takeover bid, Mitsui will own approximately 30% effective interest in EYS shares, ROHTO approximately 60%, and the founding family approximately 10%. The acquisition of 100% of EYS shares is valued at approximately SGD800 million (approximately ¥88 billion), subject to adjustments. Mitsui will acquire shares worth an estimated ¥15 billion on a net basis, excluding the proceeds from the RCH's sale of the EYS shares. Completion of the acquisition is targeted to take place on or around 30 June 2024.

Eu Yan Sang, founded in 1879, is a leading integrative health and wellness company with a unique heritage in Traditional Chinese Medicine ("TCM") that operates over 170 retail outlets and 30 clinics in its core Singapore, Hong Kong, and Malaysia markets. Eu Yan Sang also has a significant network across 29 markets, including manufacturing capabilities in Malaysia and Hong Kong. Through its comprehensive and modern product portfolio, combined with a strong emphasis on continuous product innovation, Eu Yan Sang seeks to empower customers to live their best quality of life by providing health and wellness solutions rooted in TCM wisdom.

In 2018, Mitsui invested in Thorne HealthTech Inc., an American manufacturer and supplier of advanced functional supplements. Since then, Mitsui has worked to build a science-based, individualized solutions business for pre-symptomatic conditions. Mitsui invested in EYS through the fund and has since contributed to the expansion of EYS' business by helping to enhance the value of the EYS brand and supporting the company's overseas expansion. Through these activities, Mitsui reconfirmed EYS's strong business potential and how Mitsui could contribute to its business expansion, which led to Mitsui's decision to re-invest in EYS with ROHTO and the founding family through the SPC. Leveraging the competitiveness of EYS' brand and products in Asia and ROHTO's R&D and marketing capabilities, Mitsui will work to create an innovative new business.

Mitsui has identified "Wellness Ecosystem Creation" as one of its key strategic initiatives in the Medium-term Management Plan 2026. Through the provision of healthcare, preventive care, and solutions for pre-symptomatic conditions, as well as the supply of foods that offer health benefits, Mitsui will contribute to the qualitative enhancement of today's increasingly diverse consumer lifestyles. Mitsui will continue to support the realization of richer and brighter lives by enhancing health and well-being through its contributions in the area of preventive care and solutions for pre-symptomatic conditions.

ROHTO's corporate purpose is to lead all individuals and society to a state of well-being by delivering health to people around the world through its products and services. The development of its business in line with this purpose is guided by its business domain vision 2030, which calls for further expansion and reinforcement of its core business activities in the areas of OTC pharmaceuticals, skincare products, and other food items.

Company Profile

Official name Eu Yan Sang International Ltd
Head Office Location Singapore
Established 1879
Representative Dominic Wong
Number of employees 1,357 (as of June of 2023)

Official name ROHTO Pharmaceutical Co., Ltd.
Head Office Location Osaka, Japan
Established 1949
Representative Kunio Yamada
Number of employees 6,504 (as of March of 2023)

Eu Yan Sang: Retail Outlet

Eu Yan Sang: Retail Outlet

TCM Products ranging from medicines to wellness-related products

TCM Products ranging from medicines to wellness-related products

Mitsui’s Materiality

“Build brighter futures, everywhere” as our corporate mission, and to gain the trust and expectations of our stakeholders to realize a better tomorrow for earth and for people around the world, we have identified five material issues (“Materiality”) for Mitsui’s sustainable growth. We anticipate this particular project/ business to contribute especially to the realization of “Enhance quality of life”

  • Secure sustainable supply of essential products

    Secure sustainable supply of essential products

  • Enhance quality of life

    Enhance quality of life

  • Create an eco-friendly society

    Create an eco-friendly society

  • Develop talent leading to value creation

    Develop talent leading to value creation

  • Build an organization with integrity

    Build an organization with integrity


For inquiries on this matter, please contact

Mitsui & Co., Ltd.
Corporate Communications Division
Telephone: +81-80-5912-0321
Facsimile: +81-3-3285-9819
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