Kao (4452) Marketing strategy briefing: Building the capability to continue being chosen by consumers and AI

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Kao (4452) Marketing strategy briefing: Building the capability to continue being chosen by consumers and AI

J P M O R G A N Asia Pacific Equity Research

14 July 2026

Kao (4452) Overweight

4452.T, 4452 JP

Marketing strategy briefing: Building the capability Price (14 Jul 26):¥3,279

to continue being chosen by consumers and AI Price Target (Dec-26):¥3,900

Kao held a briefing on July 14 at which Hirofumi Ito, Head of the Global Consumer Japan Equity Research

Care Division’s Marketing Innovation Center, talked about marketing strategies

Cosmetics and Personal Care /

designed for an era in which AI agents will handle everything from product Paper and Packaging

purchasing to payments. He also disclosed Kao’s intention to roll out digital AC Akiko Kuwahara

transformation (DX) marketing efforts in Europe and the US going forward, with

(81-3) 6736-8617

the aim of increasing sales and profit margins in those markets. We got a positive akiko.kuwahara@jpmorgan.com

impression from the examples of successful overseas marketing initiatives, such JPMorgan Securities Japan Co., Ltd.

as the growth of Bioré UV’s market share in North America and scaling up of AI-

powered content creation at Goldwell.

• Summary of briefing: Mr. Ito commented that in the AI adoption era a key

requirement for Kao’s marketing is to keep being chosen not only by

consumers but also by AI itself. Kao has thus developed Global Marketing i-

Kao, a tool that reveals AI recommendation shares, word-of-mouth shares, and

the factors behind them. Kao’s strategy is to enhance brand loyalty by building

trust while communicating the unique, evidence-based value of its products to

consumers via suitable points of contact. From 2026, Kao also plans the global

roll-out of DX initiatives first developed in Japan.