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02-03-2020, 10:48 PM
(This post was last modified: 02-03-2020, 11:34 PM by dreamybear.)
Mandom Corporation is a Japanese manufacturer and distributor of hair care, skin care, perfumes, and deodorants. The company was founded in 1927 under the name Kintsuru Perfume Corporation (金鶴香水株式会社) and changed its name to Mandom Corporation in 1971(Wiki)
Its products include Lucido-L, Bifesta, etc which are commonly sold in Singapore shops like Watsons. Guys wld probably know the Gatsby brand and perhaps even the funny Kimura Takuya Gatsby advert.
According to its report(below), one in 6.5 people in Asia uses its products !
While it may not be cheap in terms of valuation(P/E : 21.2, P/B : 1.54)*, its products are established and familiar. Perhaps taking the long term view lesson from WB, its business wld probably still be around some 20-30 years from now.
Bonus : Net cash ! (pg78 Report)
Unfortunately, its ROE & net profit margin seem quite low*, probably gd products but in a very competitive industry.
* https://www.reuters.com/companies/4917.T/key-metrics
https://www.mandom.co.jp/en/ir/pdf/2019_...report.pdf [Report]
Its products include Lucido-L, Bifesta, etc which are commonly sold in Singapore shops like Watsons. Guys wld probably know the Gatsby brand and perhaps even the funny Kimura Takuya Gatsby advert.
According to its report(below), one in 6.5 people in Asia uses its products !
While it may not be cheap in terms of valuation(P/E : 21.2, P/B : 1.54)*, its products are established and familiar. Perhaps taking the long term view lesson from WB, its business wld probably still be around some 20-30 years from now.
Bonus : Net cash ! (pg78 Report)
Unfortunately, its ROE & net profit margin seem quite low*, probably gd products but in a very competitive industry.
* https://www.reuters.com/companies/4917.T/key-metrics
https://www.mandom.co.jp/en/ir/pdf/2019_...report.pdf [Report]
