Kao Corporation has been selected by the Securities Analysts Association of Japan (SAAJ) to receive the SAAJ's 2020 Award for Excellence in Corporate Disclosure in the Cosmetics and Personal Care industry. This is the second consecutive year for Kao to receive the award.
The SAAJ established an evaluation and award system in 1995 to promote and improve corporate disclosure and has been implementing it every year since then. In 2020, a total of 299 companies from 18 industries were screened. The Cosmetics and Personal Care Industry was added to the industry categories in 2019.
The review criteria cover five areas: 1) management's involvement in investor relations (IR), the functions of the IR department, and the company's basic stance on IR; 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 received a high evaluation for items including its management team's communication of meaningful messages to investors on matters such as current and future management strategy, and its proactive efforts to disclose non-financial information, including information on ESG and its integrated report.
Responding to Kao's selection for the award, Michitaka Sawada, President and Chief Executive Officer of Kao Corporation, stated "I feel both great pride and the weight of responsibility in receiving this award for the second consecutive year. We believe that improving the quality of disclosure will earn stakeholder trust, which in turn will lead to an increase in Kao's corporate value. We will continue to conduct accessible and proactive activities with even greater transparency."
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. Kao has already begun full-scale implementation of the Kirei Lifestyle Plan, its ESG strategy announced in April 2019.
The Kao Group will continue striving to realize even more in-depth stakeholder engagement through fair, proactive communication, with the goal of fostering understanding and consensus among all its stakeholders regarding Kao's ESG activities and other initiatives.
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.