{
  "docId": "019dd923-622b-71dc-a6dd-5fbf9530fdff",
  "docSlug": "6f751c98c9d1",
  "documentTitle": "Kao Corporation (4452.JP)",
  "authorId": "25_Oasis_Management",
  "authorName": "Oasis",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2024-04-25 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.7777778,
  "pageNumber": 39,
  "pageCount": 96,
  "prevPage": 38,
  "nextPage": 40,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "dense",
  "nDataPoints": 0,
  "notes": "Uses CEO quotes to demonstrate a lack of strategic focus.",
  "elementsJson": [
    "headline_text",
    "subtitle_text",
    "paragraph",
    "quote_block",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6dd-5fbf9530fdff/39",
  "deckHref": "/decks/019dd923-622b-71dc-a6dd-5fbf9530fdff",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6dd-5fbf9530fdff.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dd-5fbf9530fdff#slide-39",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "Although Kao has excellent brands with strong growth potential, yet Kao’s management team seems disinterested and have repeatedly indicated that their focus is not on growth opportunities in FMCG.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-0f1a-773e-97e5-b7328f0ee709",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.5,
        "x": 0.07,
        "y": 0.95
      },
      "kind": "other",
      "text": "1) Tokyo University of Science Interview, December 2021",
      "attrs": null,
      "subkind": "source-note",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ea9990e7-324d-4823-82a3-faf217db4e0d",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.85,
        "x": 0.07,
        "y": 0.29
      },
      "kind": "paragraph",
      "text": "Although Kao has excellent brands with strong growth potential, yet Kao’s management team seems disinterested and have repeatedly indicated that their focus is not on growth opportunities in FMCG. Kao’s strengths are in its core businesses, world class consumer goods brands, NOT in enzyme batteries or medical treatments.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c688225d-b14b-40cc-97a8-cb980d542034",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.65,
        "x": 0.18,
        "y": 0.7
      },
      "kind": "quote",
      "text": "“We need a new engine for the future.” With this in mind, we aim to enter the medical (treatment/diagnosis) field...",
      "attrs": null,
      "subkind": "testimonial",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "16bdac1c-409f-4cf2-8368-20af98434053",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.65,
        "x": 0.18,
        "y": 0.53
      },
      "kind": "quote",
      "text": "Kao conducts world-class enzyme research... I think enzyme-driven batteries will be useful in unexpected places",
      "attrs": null,
      "subkind": "testimonial",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "3a33e156-bcb0-414c-9d4d-33a00bad74b4",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "“Kao conducts world-class enzyme research... I think enzyme-driven batteries will be useful in unexpected places” — President Yoshihiro Hasebe, December 2021; “We need a new engine for the future.” With this in mind, we aim to enter the medical (treatment/diagnosis) field... — Nikkei Business interview with President Yoshihiro Hasebe, March 2022",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd953-0f1a-773e-97e5-bb8c280661c0",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.15,
        "x": 0.07,
        "y": 0.23
      },
      "kind": "title",
      "text": "Lack of Focus",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "80a7e5a7-5ebc-4684-ad01-97149002a6fe",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.5,
        "x": 0.07,
        "y": 0.05
      },
      "kind": "title",
      "text": "1. Kao’s (Lack of) Strategic Vision",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a69977a1-d40c-4282-b915-7f4eb3f1efd7",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.25,
        "x": 0.07,
        "y": 0.12
      },
      "kind": "title",
      "text": "Fundamental lack of focus",
      "attrs": null,
      "subkind": "subtitle",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b050408e-8334-479b-807d-8a5f14a5ea56",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "ceo-quote-contradiction",
      "slug": null,
      "matchId": "9139af05-78a5-4a15-8ec9-64c4102ea73f",
      "evidence": "Uses direct quotes from the CEO to highlight a strategic disconnect.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}