How will the Kanebo brands be positioned versus Kaos Sofina brand?
“Sofina is still a small brand. The two brands will be competitors,” Mr. Yogo said. How do you respond to critics that say the IRCJ as a public entity should not have made the deal when Kao, a private player, was willing to buy Kanebo? “The financial situation of Kanebo Ltd. was very bad, worse than had been thought. Probably a shareholder class action would have been brought, and the acquisition by Kao, even if it had been closed, might have been retroactively denied by the court. This was the only way to rescue the company with all the employment saved,” Mr. Yogo replied. Why was Kao chosen as the buyer? The IRCJ has a strict policy excluding management from involvement in the sale transaction, and so he was outside the Chinese wall, Mr. Yogo explained. “But looking from outside it looks like quite fair bidding,” he added. What is Kanebo’s strategy to increase its market share? Mr. Yogo said that he has focused management on the international market. “Japan is quite saturated, but th
