Kao Corp (OTCPK:KAOOY)

$ 8.1 -0.01 (-0.12%) Market Cap: 18.81 Bil Enterprise Value: 18.62 Bil PE Ratio: 36.28 PB Ratio: 3.00 GF Score: 80/100

Half Year 2019 Kao Corp Earnings Call Transcript

Jul 31, 2019 / NTS GMT

Release Date Price: $14.25 (-4.62%)

Transcript

Kenichi Yamauchi

Kao Corporation - Executive Officer and Senior VP of Global Finance & Accounting

My name is Kenichi Yamauchi, Executive Officer, Senior Vice President, Accounting and Finance. I would like to briefly provide you the Q2 results and the full year guidance as I have done in the past.

I will touch upon the content of pages 3 and 4 in my presentation. So please skip to Page 5.

Let's start with the state of the market. Growth of household and personal care market. The green line denotes the SRI POS, point-of-sale data, which are the estimates based on POS data from retail outlets. And it was not so terrible at year-on-year, 2% growth. However, if you were to look at Q2 on a standalone basis, the growth was flat. So the results were not great either. The orange line denotes the SCI survey, which includes e-commerce but excludes inbound sales, was trending firm at 4% year-on-year growth.

Next, the growth of cosmetics market on the top right of the page. This is trending flat. And considering the inclusion of inbound sales in SRI POS data, the growth was weak. This

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