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  "documentTitle": "Kao Corporation (4452.JP)",
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  "notes": "Oasis Management activist deck slide regarding Kao Corporation's global strategy.",
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      "text": "オアシスの調査によると、キュレルは欧米市場にて大きな需要が見込まれる",
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      "text": "キュレルとフリープラスが小売販売されている地域。特に、フリープラスは中国で高いプレゼンスを発揮している一方、アジア域外での本格展開はなし",
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      "text": "フリープラスのみが小売販売されている地域。フリープラスは、現在アジア域外では販売されておらず、今後も販売される予定はありません",
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      "text": "花王自身の保守的な見積もりでも、2027年までのダーマ化粧品の世界市場規模は379億米ドルに達する",
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      "text": "このことからも、花王の各ブランドは収益源の拡大と分散において大きな制約を抱えていることは明らかです。",
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      "text": "花王の化粧品ブランドは、SephoraやSpace NKという海外において極めて重要な2大小売チェーンで販売されていません。このことからも、花王の各ブランドは収益源の拡大と分散化において大きな制約を抱えていることは明らかです。",
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      "text": "花王はキュレルとフリープラスを一部のアジア諸国でしか販売していません。一方、競合他社はこれを遥かに上回る数の国・地域にてダーマ化粧品ブランドを展開しています。",
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      "text": "ブランド名, 会社, 販売地域数; ユーセリン, バイヤスドルフ, 46以上; ラロッシュポゼ, ロレアル, 60以上; ニュートロジーナ, ケンビュー, 70以上; セタフィル, ガルデルマ, 70以上; キュレル, 花王, 12; フリープラス, 花王, 10",
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      "text": "制約を抱えるブランド - ダーマ化粧品",
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      "text": "1. 消極的なグローバル展開",
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