Kao Corporation, headquartered in Tokyo, Japan, has announced that it will commence its prestige cosmetics business in China in March 2004. In the first fiscal year, the Company will focus on the establishment of the operating base at approximately 10 stores in Shanghai and neighboring areas. The Company aims to achieve sales of one billion yen (equivalent to approx. USD 9.4 million) at 50 luxury department stores in large cities by fiscal 2007. The actual business will be conducted through Kao's wholly owned subsidiary, Kao (China) Holding Co., Ltd. (Headquarter: Shanghai, China). Kao's prestige ...


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