The French L'OREAL (turnover of FF 70.3 billion in 1999) will take, via its Japanese subsidiary NIHON L'OREAL, a 35% stake in the capital of the Japanese company SHU UEMURA (turnover of 13.5 billion in the 1999-2000 financial year), specialised in make-up. It will have the right to pre-emption enabling it to increasing in capital. Furthermore, L'OREAL will buy all the international activities of the Japanese.