On December 10, 2024, Oasis Management Company Ltd. announced that it has increased its stake in Kao to over 5%. This move reinforces Oasis's position as one of the company's largest institutional investors and underscores its commitment to driving sustainable growth at Kao. Oasis Management expressed that despite its strong domestic presence and reputation for delivering high-quality products, Kao has consistently failed to fully capitalize on its international growth potential.
Oasis believes that by leveraging its brands to drive robust international growth, Kao has the potential to become a global leader, competing with the likes of Beiersdorf AG, L?Oreal SA, Unilever Plc, and The Procter & Gamble Co. In light of this, Oasis plans to nominate five industry-leading director candidates for Kao's upcoming Annual General Meeting in March 2025. Oasis has expressed its disapproval of Kao's dilution of Board oversight and the premature announcement of director changes before interviewing the candidates submitted by Oasis.
