Sho-bi Do Co., Ltd. announced that it has received CNY 13.33 million in funding from Sho-Bi Corporation.
October 12, 2012 at 12:00 am EDT
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Sho-bi Do (Shanghai) Co., Ltd. announced that it will raise $2,100,000 (CNY 13,326,900) in a round of funding from existing investor Sho-Bi Corporation on August 17, 2012. The transaction was approved at the board of directors' meeting of the investor. The transaction is expected to close by early October 2012. Sho-Bi Corporation would maintain its 100% stake in the company. On closing, the capital of the company increased to $3,100,000 (CNY 19,640,100). The company generated revenues of CNY 19,055,922, total assets of CNY 16,674,722, net assets of CNY 8,947,843, and made losses of CNY 2,269,527 for the year ended 2011. The conversion was made through www.oanda.com as on August 17, 2012.
On October 12, 2012, Sho-bi Do (Shanghai) Co., Ltd. closed the transaction.
SHOBIDO Corporation, formerly SHO-BI Corporation, is a Japan-based company engaged in the sale of cosmetics, apparels, character goods and contact lens related products to retailers, wholesalers and general consumers. The Company is engaged in the proposal and planning of products that match customer needs, and production outsourcing to manufacturers in Japan and overseas, as well as the planning, manufacture and sale of contact lenses. The brands include DECORATIVE EYES, PienAge and NADESHIKO COLOR. The products include eye makeup products such as eye shadow, pencil eye liner and mascara products, cosmetics such as makeup brushes, puffs, lips and cheeks, nail products such as nail colors, nail chips and nail stickers, travel miscellaneous goods such as travel products and travel sets, fashion miscellaneous goods such as cosmetic pouches, cases, mirrors, wallets and umbrellas, kids goods such as stationeries, bags and towels, as well as gift products.
SHOBIDO CORPORATION 
