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  "docSlug": "6f751c98c9d1",
  "documentTitle": "Kao Corporation (4452.JP)",
  "authorId": "25_Oasis_Management",
  "authorName": "Oasis",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
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  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2024-04-25 00:00:00",
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  "pageNumber": 59,
  "pageCount": 96,
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  "slideType": "market_sizing",
  "function": "size_opportunity",
  "density": "dense",
  "nDataPoints": 5,
  "notes": "Uses bubble-style visualization to contrast Kao's smaller revenue footprint with major competitors.",
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  "components": [
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      "kind": "callout",
      "text": "Mass-Market Personal Care has a long way to catch-up, and grow",
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      "toolName": "Visual emphasis",
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      "kind": "chart",
      "text": "Revenue comparison of Kao brands vs Nivea, Garnier, Neutrogena",
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        "y": 0.63
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      "kind": "list",
      "text": "Jergens: Well regarded US moisture lotion and skincare brand. Key South American markets (Brazil, etc.) are under-penetrated.",
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      "kind": "list",
      "text": "Bioré: Dominant local body and skincare brand; highly regarded in UV protection. Decent ASEAN footprint, untapped int'l growth runway based on our research.",
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      "text": "Revenue 2022 (USDm): $6,377",
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      "kind": "source-note",
      "text": "Source: Oasis calculations based on sell-side analyst estimates for Biore revenue, Jergens, Nivea, Neutrogena and Garnier figures based on Euromonitor figures",
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      "kind": "title",
      "text": "Kao’s Mass Personal Care Opportunity",
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      "kind": "title",
      "text": "2. Untapped Potential - Bioré",
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      "evidence": "Comparison of revenue figures to identify growth potential",
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