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JAPAN'S KAO FORMS HOLDING FIRM IN SHANGHAI TO EXPAND CHINA OPS.
AsiaPulse News, July, 2002
TOKYO, July 10 Asia Pulse - Kao Corp. (TSE:4452) announced Tuesday that it has established a wholly owned holding company in Shanghai to expand local operations. Kao (China) Holding Co. will play a key role in setting strategies and raising funds for local subsidiaries of the leading consumer chemical firm.
The three Kao firms that make and sell household chemical products in China will be put under the supervision of the new holding company. The Japanese firm also plans to start selling skin-care products in China to keep up with Japanese rivals already doing business there.
Kao (China) Holding is capitalized at US$30 million. Of the three local firms to be placed under its wing, Kao Corp. Shanghai produces and markets detergents, shampoos and other...
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