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THE BANK OF NEW YORK IS SELECTED FOR NEW SPONSORED ADR BY SHISEIDO COMPANY, LIMITED

 THE BANK OF NEW YORK IS SELECTED FOR
 NEW SPONSORED ADR BY SHISEIDO COMPANY, LIMITED
 NEW YORK, July 9 /PRNewswire/ -- The Bank of New York announced today that Shiseido Company, Limited, Japan's largest cosmetics manufacturer, has selected the Bank as the depositary for its new American Depositary Receipt (ADR) facility. The new sponsored ADR program has been declared effective by the Securities and Exchange Commission. They will trade on the over-the-counter market.
 An agreement formalizing the relationship between Shiseido and The Bank of New York was signed today at the bank by Kazuteru Matsuda, senior executive vice president of Shiseido, and Thomas A. Renyi, vice chairman of The Bank of New York.
 "We are pleased that Shiseido has entered the United States' market to take advantage of the opportunities here. We are very honored to have them as a client," said Renyi.
 Headquartered in Tokyo, Shiseido has manufactured cosmetics for the Japanese market for 120 years and worldwide since 1957. The company has become one of the leading cosmetics companies in the world and their products are now available in more than 30 countries. At fiscal year- end March 31, 1992, Shiseido's market capitalization was approximately $3.98 billion.
 The Bank of New York manages more sponsored depositary receipt programs than any other depositary bank, making it the world's leading depositary facility. The bank currently issues depositary receipts for more than 650 non-U.S. companies representing 34 countries.
 The Bank of New York was founded in 1784 by Alexander Hamilton and is the nation's oldest bank operating under its original name. It is the principal subsidiary of The Bank of New York Company, Inc. (NYSE: BK), which is the 17th largest commercial bank holding company in the United States, with total assets of $40.1 billion at March 31, 1992. The company provides a complete range of banking and other financial services to corporations and individuals worldwide through its five basic businesses: corporate banking, retail banking, securities processing, trust and investment management, and financial market services. The company's stock is traded on the New York Stock Exchange under the symbol BK.
 -0- 7/9/92
 /CONTACT: Public and investor relations: Michael M. Pascale, VP, 212-495-1041, or Margaret W. Southerland, AVP, 212-495-1725, or American Depositary Receipt Divisional Contact: Kenneth Lopian, VP, 212-815-2084, all of Bank of New York/
 (BK) CO: Bank of New York; Shiseido Company, Limited ST: New York IN: FIN SU:


KD -- NY070 -- 7987 07/09/92 16:15 EDT
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Publication:PR Newswire
Date:Jul 9, 1992
Words:411
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