On April 4, 2024, Kao Corporation announced that its shares rose sharply after Oasis Management urged the Company to focus on the international growth of its cosmetics and skin-care brands, and tap its full potential. Oasis Management stated that the Company?s management hadn't done enough to fully unleash the potential of its impressive set of brands, including Curél skin-care products and Molton Brown, which encompasses fragrances, beauty and other products. Oasis Management said the Company that it had the product portfolio to compete with the likes of L'Oreal and Procter & Gamble and become a global leader, but the Company had not prioritized marketing or distribution to promote its products and drive revenue growth.

In response, the Company stated that it is pursuing global growth by investing in its strongest brands. The Company stated that Oasis Management's arguments didn't fully acknowledge the active portfolio management and structural reforms the Company has been executing. The Company added that it continues to engage with Oasis Management and other shareholders and welcomes fresh perspectives.