In today’s briefing:
- Crackdown on Live-Streaming E-Commerce Could Derail The Recovery of Japanese Cosmetics
- Japan’s Governance: How Far Has Corporate Governance Progressed in 2021? (1)
Crackdown on Live-Streaming E-Commerce Could Derail The Recovery of Japanese Cosmetics
- With life getting back to the usual ways following changes due to COVID-19, the Japanese cosmetics sector was expected to experience an uplift in earnings, mainly through inbound demand.
- However, the extension of China’s common prosperity crackdowns to the live-streaming e-commerce business, could more than offset a possible recovery in inbound demand.
- Thus, we fear that there is additional downside risk to Japanese cosmetics multiples in the short term.
Japan’s Governance: How Far Has Corporate Governance Progressed in 2021? (1)
- I would like to have figures to see how far the corporate governance has been enhanced as a result of the efforts of companies for 2021.
- The ratio of independent directors and Nomination and Compensation Committees, which were specifically mentioned in the revised Corporate Governance Code as areas for improvement, have been improved.
- Items that weren’t specifically mentioned in the revised Corporate Governance Code as requiring improvement, such as chair of board, female directors, and anti-takeover measures, were evaluated with only limited improvement.
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