As it seems we are looking to Japan as a key source of ideas in this field, I would suggest management take a look at Kitanotatsujin, a listed company based in Hokkaido. The company has built up a formidable DTC subscription business by developing unique consumer products with functional ingredients. They could use a natural sunscreen in their line-up of facial beauty products, and there might be something there worth expanding outside of Japan.
Ann: Business Update, page-25
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