{
  "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": 97,
  "pageCount": 136,
  "prevPage": 96,
  "nextPage": 98,
  "slideType": "comparison_table",
  "function": "compare_peers",
  "density": "dense",
  "nDataPoints": 3,
  "notes": "Uses a 'Right Way' vs 'Wrong Way' framing to critique Kao's management.",
  "elementsJson": [
    "headline_text",
    "subtitle_text",
    "paragraph",
    "bullet_list",
    "logo_grid",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6dd-591332a8793a/97",
  "deckHref": "/decks/019dd923-622b-71dc-a6dd-591332a8793a",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6dd-591332a8793a.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dd-591332a8793a#slide-97",
  "components": [
    {
      "bbox": {
        "h": 0.12,
        "w": 0.4,
        "x": 0.52,
        "y": 0.48
      },
      "kind": "callout",
      "text": "As important though, do the remaining six brands ALL fit Hasebe's 2021 criteria of JPY5bn revenue, 15% operating margin and growth? If not, would it not be better to pool resources into Biore and Jergens instead?",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "fa980a13-c8a3-4951-9b1f-7d31d5a8d9de",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.3,
        "w": 0.4,
        "x": 0.07,
        "y": 0.6
      },
      "kind": "image",
      "text": "Unilever's 30 Power Brands",
      "attrs": null,
      "subkind": "logo-grid",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "1170cc40-b5a6-4c33-8275-ef55c6e6a3ca",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.4,
        "x": 0.52,
        "y": 0.65
      },
      "kind": "image",
      "text": "Kao brands",
      "attrs": null,
      "subkind": "logo-grid",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "86cbd8fd-4b7f-4953-b241-22127167a520",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.4,
        "x": 0.07,
        "y": 0.26
      },
      "kind": "list",
      "text": "Unilever has identified 30 Power Brands that account for 75%+ of revenue. It has flagged these brands due to expansion potential and/or profitability.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b804b5b2-3658-46e3-8b25-4e95e09cad06",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "revenue: JPY180bn",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-3f3f-7598-9403-2c19d4e29be6",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.4,
        "x": 0.52,
        "y": 0.26
      },
      "kind": "paragraph",
      "text": "Oasis estimates H&B's nine face & body care brands posted about JPY180bn in 2023 revenue. Biore and Jergens likely were JPY160bn of this; while Nivea is manufactured as a JV.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "3bab80e9-4c4f-4cde-84c3-de52112a13d9",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.3,
        "x": 0.52,
        "y": 0.21
      },
      "kind": "paragraph",
      "text": "KAO – The Wrong Way",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a2a32bc2-c232-4c40-8f60-8efe7bf59841",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.3,
        "x": 0.07,
        "y": 0.21
      },
      "kind": "paragraph",
      "text": "UNILEVER – The Right Way",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a82cb037-4879-464b-8b7b-80d74e51341d",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.5,
        "x": 0.07,
        "y": 0.05
      },
      "kind": "title",
      "text": "Brand Portfolio Management",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e1ad949b-a864-45db-8414-4f9869cb716a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.3,
        "x": 0.07,
        "y": 0.13
      },
      "kind": "title",
      "text": "Two Differing Approaches",
      "attrs": null,
      "subkind": "subtitle",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4c08b1ff-3e11-4d6e-8fb1-dc909d9069e0",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "comparison-frame",
      "slug": null,
      "matchId": "5e5933a6-4716-4747-86e5-173cf9dda250",
      "evidence": "Contrasting Unilever's strategy with Kao's to highlight a strategic gap.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}