Activist investor Oasis urges Japan's Kao to reduce brands

TOKYO -- Hong Kong investment firm Oasis Management is considering submitting shareholder proposals to Japanese cosmetics giant Kao in 2025 to encourage management to cut underperforming products and boost shareholder returns, the investor said on Monday.

In a statement released last Wednesday, Oasis -- a Kao shareholder -- had called on Kao to reduce unprofitable brands and products as well as appoint outside directors with experience in marketing and other areas. Kao issued a response on Thursday, defending its existing growth plans.