In today’s briefing:
- Shiseido (4911 JP) | Wrinkle Free
- Is the Stagnant Birth Rate Caused by Gender Disparity or Stagnant Income?
Shiseido (4911 JP) | Wrinkle Free
- We turn Bullish on Shiseido. The market has now digested the weak results for 2022 and can look to a recovery over the next year
- Recent commentary from Estee Lauder’s CEO suggest that China is recovering and that the outlook is bright
- Shiseido is one of the key beneficiaries as Japan re-opens its borders to foreign travellers
Is the Stagnant Birth Rate Caused by Gender Disparity or Stagnant Income?
- Support through reform of social systems needs to develop environment conducive to childrearing, not to mention Scandinavian case. The generation with old view of family is obstacle to these reforms.
- As real incomes declined, the number of dual-earner families increased and the fertility rate declined. The decline in the fertility rate is related to the decline in income per worker.
- Meanwhile, companies managed to maintain profit margins by holding down labor costs. Declining real incomes, declining birth rates, management distancing itself from diverse values, and stagnant profit margins are interrelated.
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