Kao Corporation reported that sales for fiscal 2008—ended March 31, 2009—declined 3.2%. Net income in fiscal 2009 also fell 3.2%. Sales in its beauty business fell 6.3% to ¥588.3 billion. With the exception of the Japanese market, the Asian market posted the company's sole gains.
In reaction to the overall market downturn, the company has forecast a 5.2% decline in net sales for fiscal 2009. Kao stated that it will work to revitalize its beauty business by emphasizing the brand's point of differentiation while assessing changes in consumer attitudes toward beauty and lifestyle habits. In the foreign markets in which it operates, it will work to cultivate and strengthen its core brands.
