{ "docId": "019dd923-622b-71dc-a6dd-6dd6e7ce8a5d", "docSlug": "cf721953f722", "documentTitle": "Kao Corporation (4452.JP)", "authorId": "25_Oasis_Management", "authorName": "Oasis", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": null, "orientation": "landscape", "aspectRatio": 1.7777778, "pageNumber": 60, "pageCount": 96, "prevPage": 59, "nextPage": 61, "slideType": "expose_contradiction", "function": "expose_contradiction", "density": "dense", "nDataPoints": 4, "notes": "Oasis Management activist deck slide criticizing Kao's management of Molton Brown.", "elementsJson": [ "headline_text", "subtitle_text", "paragraph", "callout_box", "photo", "footnote" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622b-71dc-a6dd-6dd6e7ce8a5d/60", "deckHref": "/decks/019dd923-622b-71dc-a6dd-6dd6e7ce8a5d", "deckJsonHref": "/decks/019dd923-622b-71dc-a6dd-6dd6e7ce8a5d.json", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dd-6dd6e7ce8a5d#slide-60", "components": [ { "bbox": { "h": 0.15, "w": 0.42, "x": 0.06, "y": 0.52 }, "kind": "callout", "text": "2022年までの10年間、モルトンブラウンの世界収益は6.2%の年平均成長率を達成しました。しかし、花王は2030年までのモルトンブラウンの年平均成長率は5.2%を目指すとしており、この10年よりも遅いペースの成長目標が掲げられています。", "attrs": null, "subkind": "primary", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "48888fb4-5fce-4b54-bb4d-c2f0b4406fae", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.7, "w": 0.4, "x": 0.55, "y": 0.15 }, "kind": "image", "text": "Molton Brown product bottles", "attrs": null, "subkind": "photo", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "67c9937b-ecd6-400c-92f7-579847b888c4", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "metric", "text": "CAGR: 6.2%", "attrs": null, "subkind": "primary", "toolName": "Quantification", "toolSlug": "quantification", "confidence": null, "componentId": "019dd953-3f3e-76f7-b9dc-3d508feafcd4", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.12, "w": 0.42, "x": 0.06, "y": 0.36 }, "kind": "paragraph", "text": "モルトンブラウンのブランド資産価値は高く、季節変動の小さいカテゴリーの商品を拡充させ、生産体制や価格設計戦略を見直すことで利益率を大幅に改善できる余地があります。しかしながら...", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "1e8168b6-62f1-4811-893f-0df0cd3800b2", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.12, "w": 0.42, "x": 0.06, "y": 0.22 }, "kind": "paragraph", "text": "モルトンブラウンは英国発の高級トイレタリー商品メーカーで、英国王室御用達指定証（Royal Warrant）の授与を受けています。モルトンブラウンは2023年において、1.4億米ドルの収益を記録したと試算されます。", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "aac291c6-df86-4b12-8f00-62c32a85f973", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.12, "w": 0.42, "x": 0.06, "y": 0.72 }, "kind": "paragraph", "text": "エスティローダーのブランドであるJo Maloneは年平均11.9%のペースで英国およびアイルランドでの収益を伸ばしました。Jo Maloneの現在の英国における収益は、モルトンブラウンの世界総収益と匹敵する規模です。", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "c3a85f77-db1d-4f34-92bb-1587be4cc23b", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.85, "x": 0.06, "y": 0.95 }, "kind": "source-note", "text": "注 1: 英国会社登記所 (Companies House) を参照 2: 花王グループ化粧品・スキンケア事業成長戦略説明会では、2030年までにグローバル売上高を50%増加させることを目標に掲げている", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "c6da3724-f71c-42aa-9b56-6a74965e9193", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.06, "w": 0.45, "x": 0.06, "y": 0.04 }, "kind": "title", "text": "3. 潜在的な成長：モルトンブラウン", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "657ad436-91a6-4a93-8ee1-6f0950ab96bf", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.04, "w": 0.25, "x": 0.06, "y": 0.12 }, "kind": "title", "text": "高級トイレタリーブランド", "attrs": null, "subkind": "subtitle", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "85bcc84e-e9c8-409d-bcdc-ae4709f571e0", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [ { "name": "comparison-frame", "slug": null, "matchId": "e6fe37fb-821b-43e6-947c-9935666f8d9b", "evidence": "Comparing Molton Brown's historical growth vs Kao's target vs Jo Malone's growth", "confidence": 0.9 } ], "arcBeats": [ { "to": 96, "from": 49, "beatId": "b2f59b4f-2bbe-4e4b-b640-3f702b1f3e19", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Solution (Provide relief)", "beatSlug": "problem-agitate-solution-solution-provide-relief", "evidence": "The deck proposes solutions, including a focus on growth, marketing reform, and a more diverse leadership team.", "position": 2, "confidence": 0.9, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "loops": [ { "to": 60, "from": 50, "name": "Jobs To Be Done", "slug": "53-jobs-to-be-done", "bestFor": "Product innovation, market entry, competitive positioning", "matchId": "e0133f59-1a57-4399-9dd5-d3e15c73c108", "evidence": "The deck identifies several growth opportunities, including the dermacosmetics market.", "position": 1, "objective": "What are the key growth opportunities for Kao?", "structure": "The Customer's Job -> Current Solutions (Hired/Fired) -> Unmet Needs -> Our Solution Fit", "confidence": 0.8, "description": "Reframe the problem around what the customer is trying to accomplish, not what they're buying" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }