The Securities Analysts Association of Japan has established objective review criteria to determine the relative excellence of companies' disclosure based on its quality, quantity, timing, and other factors. Along with this, SAAJ created the Award for Excellence in Corporate Disclosure for the purpose of promoting and improving companies' information disclosure and has given out the award annually since 1995. In fiscal 2019, a total of 276 companies in 17 industries were screened for the award.

The review criteria consist of five areas: 1) management's involvement on investor relations, the function of an investor relations department, and basic stance of the company's investor relations, 2) disclosure in briefings, interviews, presentation materials, etc., 3) efforts toward fair disclosure, 4) disclosure related to corporate governance, and 5) voluntary disclosure conforming to industry circumstances.
Kao was evaluated the highest on its delivery of meaningful messages to investors about its future management policy by management, and the integration of financial and non-financial information and release of integrated reports leading to mid- to long-term enhancement in corporate value. Kao also received high evaluation in general for items 3) to 5) above, leading to the 2019 Award for Excellence.

The Kao Group is making a major shift to ESG (Environmental, Social and Governance) –driven management as a new challenge to build a foundation enabling sustainable growth in 2025, 2030, and beyond. As a first step, Kao announced its ESG strategy, the Kirei Lifestyle Plan, on April 22, 2019, and is fully undertaking activities to implement this plan. Kao will proactively and fairly disclose information and deepen dialogue with a wide range of stakeholders including investors and analysts to build understanding for its activities.

Kao creates high-value-added products that enrich the lives of consumers around the world. Through its portfolio of over 20 leading brands such as Attack, Bioré, Goldwell, Jergens, John Frieda, Kanebo, Laurier, Merries and Molton Brown, Kao is part of the everyday lives of people in Asia, Oceania, North America and Europe. Combined with its chemical division, which contributes to a wide range of industries, Kao generates about 1,500 billion yen in annual sales. Kao employs about 33,000 people worldwide and has 130 years of history in innovation. Please visit the Kao Group website for updated information.