Q1 2021 Kao Corp Earnings Call Transcript
My name is Kenichi Yamauchi, Executive Officer, in charge of accounting and finance.
As usual, I would like to start with some market situation. In the upper left graph, the blue line is the year-on-year change in the market. As you all know, sales increased significantly last year due to the special demand related with COVID-19. The market conditions were also positive. So the year-on-year figures for this year are quite challenging. However, if you look at the orange line above, the comparison from 2 years ago shows that the market is relatively strong and stable. The market for household and personal care is stable. As for the growth rate of cosmetic market in Japan on the right, the blue line shows that the growth rate seems to have improved in March this year, but the impact of the pandemic began to appear around March last year. Due to this effect, the growth rate seems to have increased slightly. However, as you can see from the orange line, the cosmetics market still faces challenges
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