Activist Oasis calls on Japanese cosmetics firm Kao to improve marketing (updated)

Kao

04/04/2024 01:02

(Adds details of Oasis demands from paragraph 3)
       TOKYO, April 4 (Reuters) - Hong Kong-based activist
investor Oasis Management said on Thursday it would start a
campaign against Kao Corp  4452.T , demanding that the Japanese
cosmetics and skincare firm redefine its brand portfolio and
improve marketing. 
    "If Kao focused on its cosmetics and health & beauty
segments and improved marketing, Oasis believes its stock price
would exceed 10,000 yen per share, a 76% upside from current
levels," the hedge fund investor said in a statement. 
    Oasis said Kao should prioritize the international growth of
its core cosmetics and skincare brands, and hire a chief
marketing officer or equivalent with global experience to
transform its marketing strategy. 
    Kao has a product portfolio that can compete directly with
Beiersdorf  BEIG.DE , L'Oreal  OREP.PA , Estee Lauder  EL.N  and
Procter & Gamble  PG.N , and turn it into a global leader, the
activist investor said.
    Oasis did not say how much stock it owns in Kao. 
    Kao could not be reached for immediate comment. 

 (Reporting by Makiko Yamazaki; Editing by Sandra Maler and Tom
Hogue)
 ((Makiko.Yamazaki@thomsonreuters.com; +81-3-4563-2805;))