{
  "docId": "019dd923-622b-71dc-a6dd-591332a8793a",
  "docSlug": "d431e2d5bb2b",
  "documentTitle": "Kao Corporation (4452.JP)",
  "authorId": "25_Oasis_Management",
  "authorName": "Oasis",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2025-02-26 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.7777778,
  "pageNumber": 50,
  "pageCount": 136,
  "prevPage": 49,
  "nextPage": 51,
  "slideType": "before_after",
  "function": "illustrate_case",
  "density": "dense",
  "nDataPoints": 4,
  "notes": "Includes press clippings from The Japan Times and The Wall Street Journal as evidence of market sentiment.",
  "elementsJson": [
    "headline_text",
    "subtitle_text",
    "paragraph",
    "line_chart",
    "screenshot"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6dd-591332a8793a/50",
  "deckHref": "/decks/019dd923-622b-71dc-a6dd-591332a8793a",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6dd-591332a8793a.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dd-591332a8793a#slide-50",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "Impact on share price better for Oasis' campaign than by K27",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-3f3f-7598-93fe-def0343916d7",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.6,
        "w": 0.85,
        "x": 0.07,
        "y": 0.25
      },
      "kind": "chart",
      "text": "Kao stock price (4th Jan 2021 to 21st Feb 2025)",
      "attrs": null,
      "subkind": "line",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "cb2e188e-13b7-4f80-8703-4288d1314f3c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.18,
        "w": 0.15,
        "x": 0.74,
        "y": 0.265
      },
      "kind": "image",
      "text": "Press clippings from The Japan Times and The Wall Street Journal",
      "attrs": null,
      "subkind": "screenshot",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "50824605-5d4d-4939-bc7f-c2d09efae1eb",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "stock price: 5,801",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-3f3f-7598-93fe-e45b239adc88",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.85,
        "x": 0.07,
        "y": 0.17
      },
      "kind": "paragraph",
      "text": "Published in April 2024, “A Better Kao” was greeted with enthusiasm. In addition to a jump in Kao’s share price, Oasis was directly contacted by institutional shareholders, retail investors, and sell-side analysts, expressing resonant views.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "8f9e7e49-af41-4ef4-ba1e-80d4a1d05511",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "Kao shares jump as activist investor Oasis calls for improved performance — The Japan Times; Kao Corp. Shares Rise After Activist Investor Urges Action to Reach 'Full Potential' — The Wall Street Journal",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd953-3f3f-7598-93fe-e312fbbd0ce3",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.6,
        "x": 0.07,
        "y": 0.12
      },
      "kind": "title",
      "text": "Impact on share price better for Oasis’ campaign than by K27",
      "attrs": null,
      "subkind": "action-title",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0866cf45-7e9a-401c-84f5-92da0e3f90c4",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.45,
        "x": 0.07,
        "y": 0.05
      },
      "kind": "title",
      "text": "Market Reacted Positively",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "9a4cbea5-5aec-4bea-9e48-371631b761b3",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "before-after-framing",
      "slug": null,
      "matchId": "c1ffb5c1-bc8e-44d0-a3a5-63872bfcd113",
      "evidence": "Compares stock performance before and after specific activist interventions.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 55,
      "from": 49,
      "beatId": "f86866ba-4eda-4b87-b95d-33ccb476a294",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "Propose Solution",
      "beatSlug": null,
      "evidence": "The presentation offers concrete solutions, including appointing new directors and revising compensation for outside directors.",
      "position": 3,
      "confidence": 0.8,
      "parentBeatName": null,
      "parentBeatSlug": null
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}