Japanese Cosmetics Industry: 1Q21 Statistics Update
With 36.7% YoY growth in 1Q21, cosmetics exports continue to drive the recovery of the Japanese cosmetics sector. However, the out-of-control COVID...
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Best World International: The End Is Not Yet In Sight
SGX suspended trading of Best World shares in May 2019, following a news article and a short seller report alleging the company of fabricating...
436 Views
Kose: At a New EV/OP Peak
On the back of the optimism over revenue growth from the Chinese cosmetics market, Japanese cosmetics companies with significant exposure to the...
309 Views
Shiseido: Lowballing 2021 Guidance
Previously, we questioned whether Shiseido is playing safe or departing from cost discipline as we felt that that the 4Q20 OP estimate was too low...
389 Views
Kose: China and E-Commerce Propels Kose’s Performance Towards the Pre-Pandemic Level
Even though there are indications that Kose could be relaxing cost controls, an implied 4QFY21 OPM of 2.5% seem conservative making an OP beat a...
307 Views