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  "documentTitle": "Kao Corporation (4452.JP)",
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  "presentationDate": "2025-02-26 00:00:00",
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  "notes": "Uses a red dashed box to group counter-arguments against Kao's board statement.",
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      "text": "The Board of Directors concluded that none of these candidates possess the relevant board and management experience, expertise and engagement expected of the Company's Outside Directors, and that these candidates would not contribute to the effectiveness of the Board and the enhancement of the corporate value.",
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      "text": "Management: Within Oasis' nominees is a former Global Head of Supply Chain at P&G; How can the Board say NONE of the candidates have relevant management experience? Expertise: Oasis' nominees have over a century of experience in diverse fields within FMCG – often peers of Kao. The notion that NONE of the candidates had appropriate expertise puts the judgement of the Nomination Committee – of whom none are from Kao's industry - in serious question. Japan Experience: The Board is composed entirely of professionals who have spent their careers in or around Japanese companies. Requiring knowledge of Japanese companies from any additional candidate is not additive when the emphasis is on scaling the existing brands overseas.",
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      "text": "The Board of Directors concluded that none of these candidates possess the relevant board and management experience, expertise and engagement expected of the Company's Outside Directors, and that these candidates would not contribute to the effectiveness of the Board and the enhancement of the corporate value.",
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      "text": "Kao are not clear on how they originated their candidates. Oasis questioned Kao in engagement on this and had no clear response. Did Kao use independent search firms or just leverage their own internal networks? Evidenced by the profiles proposed, Oasis sourced the candidates through a robust process that was supported by three independent search firms to conduct a global search is robust and market leading.",
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      "text": "The Board of Directors concluded that none of these candidates possess the relevant board and management experience, expertise and engagement expected of the Company's Outside Directors, and that these candidates would not contribute to the effectiveness of the Board and the enhancement of the corporate value. — Kao Board of Directors",
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      "text": "WHERE CANDIDATES CAME FROM?",
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      "text": "Wrongfully Disregarded by Kao",
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