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...
377 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...
239 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...
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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...
236 Views