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Aderans


#1

Aderans, the world’s largest wigmaker, yesterday became the latest Japanese company to face up to the bald realities of Western-style shareholder activism.

The Tokyo-based toupee manufacturer is bracing itself for a potentially stormy proxy battle after an American investment fund – its largest shareholder, with 26.7 per cent of the stock – initiated an aggressive campaign against management plans to establish antitakeover defences.

Steel Partners Japan Strategic Fund asked Aderans shareholders to vote against the board’s proposal at the annual meeting, which will be held this month.

The management of Aderans is terrified that the firm will fall prey to a hostile takeover, a common fear among listed Japanese companies. Recent strategic failures – the company remains too narrowly focused on the thinning domestic market – make it a potentially ripe target for a turnaround fund.

In this year’s season of shareholder meetings, about 200 Japanese management teams will be proposing antitakeover strategies, including poison pills, golden shares and so-called advance-warning systems (AWSs).

The fear of unwanted takeover attempts has been heightened by a law passed last week that allows foreign companies to use only shares to buy a Japanese target. Although the newly legalised structure of “triangular mergers” cannot be used for hostile bids, its introduction is seen by corporate Japan as a dangerous step towards Wall Street-style business techniques.

In a mailing to about 6,000 Aderans investors, Steel Partners advised that they vote against the AWS proposal because the scheme “would serve to entrench management and diminish its desire to bolster shareholder value”.

Aderans is confident that its expertise will give it global reach, but the management has been criticised by analysts for its failure to deliver solid growth, despite the recent opening of the Hair Wig Joy Plaza in central Tokyo.

Although Aderans optimistically claims in one corporate slogan that “hair-related concerns literally have no boundaries”, investors say that the company has failed to realise the full profit potential of wigs and other hair replacement therapies when millions of baby-boomers are hitting their sixties. Morever, as more Japanese men are opting to flaunt their hairless pates, Aderans has yet to come up with a compelling 21st-century sales pitch for the humble hairpiece.

As Hidekatsu Watanabe, a senior analyst at Mizuho Securities, said: “While the wig market has matured to a point of nearly zero growth . . . advertising strategy has become increasingly vital. Aderans has yet to differentiate itself from rivals.”

Aderans’s global leadership has given it a strategic interest in world baldness. It conducts regular surveys in capital cities worldwide to produce an index of hair-loss rates among men. According to Aderans, the Czech Republic has the highest proportion of follically challenged males, South Korea the lowest.


#2

» http://business.timesonline.co.uk/tol/business/industry_sectors/retailing/article1763943.ece
»
» Aderans, the world’s largest wigmaker, yesterday became the latest
» Japanese company to face up to the bald realities of Western-style
» shareholder activism.
»
» The Tokyo-based toupee manufacturer is bracing itself for a potentially
» stormy proxy battle after an American investment fund – its largest
» shareholder, with 26.7 per cent of the stock – initiated an aggressive
» campaign against management plans to establish antitakeover defences.
»
» Steel Partners Japan Strategic Fund asked Aderans shareholders to vote
» against the board’s proposal at the annual meeting, which will be held
» this month.
»
» The management of Aderans is terrified that the firm will fall prey to a
» hostile takeover, a common fear among listed Japanese companies. Recent
» strategic failures – the company remains too narrowly focused on the
» thinning domestic market – make it a potentially ripe target for a
» turnaround fund.
»
» In this year’s season of shareholder meetings, about 200 Japanese
» management teams will be proposing antitakeover strategies, including
» poison pills, golden shares and so-called advance-warning systems (AWSs).
»
» The fear of unwanted takeover attempts has been heightened by a law passed
» last week that allows foreign companies to use only shares to buy a
» Japanese target. Although the newly legalised structure of “triangular
» mergers” cannot be used for hostile bids, its introduction is seen by
» corporate Japan as a dangerous step towards Wall Street-style business
» techniques.
»
» In a mailing to about 6,000 Aderans investors, Steel Partners advised that
» they vote against the AWS proposal because the scheme “would serve to
» entrench management and diminish its desire to bolster shareholder
» value”.
»
» Aderans is confident that its expertise will give it global reach, but the
» management has been criticised by analysts for its failure to deliver solid
» growth, despite the recent opening of the Hair Wig Joy Plaza in central
» Tokyo.
»
» Although Aderans optimistically claims in one corporate slogan that
» “hair-related concerns literally have no boundaries”, investors say that
» the company has failed to realise the full profit potential of wigs and
» other hair replacement therapies when millions of baby-boomers are hitting
» their sixties. Morever, as more Japanese men are opting to flaunt their
» hairless pates, Aderans has yet to come up with a compelling 21st-century
» sales pitch for the humble hairpiece.
»
» As Hidekatsu Watanabe, a senior analyst at Mizuho Securities, said: “While
» the wig market has matured to a point of nearly zero growth . . .
» advertising strategy has become increasingly vital. Aderans has yet to
» differentiate itself from rivals.”
»
» Aderans’s global leadership has given it a strategic interest in world
» baldness. It conducts regular surveys in capital cities worldwide to
» produce an index of hair-loss rates among men. According to Aderans, the
» Czech Republic has the highest proportion of follically challenged males,
» South Korea the lowest.

aderans is all smoke & mirrors dude.


#3

.
» JORGE WROTE:
» aderans is all smoke & mirrors dude.

I know man!!! I watched one of their investor presentations a while back. It was forty seven minutes, and at the end the president, a young guy with a full head of hair, said we have to show wigs can be fun and kinda cool. The 1700’s style of ridiculous wigs isn’t going to come back. Men sensibly buzz their heads now, treat their scalps, and are waiting for a real CURE.

TO be honest, HM represents a LOSS of money for a wigmaker per-person long term. Hair club gets about 1400 a year from clients. Some for 30 damn years. If HM costs about 10-grand for a one dime deal, Aderans has lost money PER PERSON.

BUT so many more people will want HM, it shouldn’t matter. In a way, you can kind of see their point. 20 years down the line after HM is out there, individual doctors might have HM kits that allow them to do it themselves, thus ending Aderans chokehold on the biz anyway.

But the future WILL come for hair. Even if it wasn’t HM, it will be gene therapy someday, or a new class of topical anti-androgens like androscience that keeps you from losing your hair to begin with by destroying androgen receptor expresssion in your scalp.

Aderans’ web site claims they are hard at work, and I hope that Stenn and Washenik are, because ICX certainly is and Shishedo and Phoenix bio probably are also.

I want my temples refilled with my own hair. Not a wig.


#4

» I know man!!! I watched one of their investor
» presentations a while back. It was forty seven minutes, and at
» the end the president, a young guy with a full head of hair, said we have
» to show wigs can be fun and kinda cool. The 1700’s style of ridiculous
» wigs isn’t going to come back. Men sensibly buzz their heads now, treat
» their scalps, and are waiting for a real CURE.
»
» TO be honest, HM represents a LOSS of money for a wigmaker per-person long
» term. Hair club gets about 1400 a year from clients. Some for 30 damn
» years. If HM costs about 10-grand for a one dime deal, Aderans has lost
» money PER PERSON.
»
»
» BUT so many more people will want HM, it shouldn’t matter. In a way, you
» can kind of see their point. 20 years down the line after HM is out there,
» individual doctors might have HM kits that allow them to do it themselves,
» thus ending Aderans chokehold on the biz anyway.
»
»
» But the future WILL come for hair. Even if it wasn’t HM, it will be gene
» therapy someday, or a new class of topical anti-androgens like
» androscience that keeps you from losing your hair to begin with by
» destroying androgen receptor expresssion in your scalp.
»
» Aderans’ web site claims they are hard at work, and I hope that Stenn and
» Washenik are, because ICX certainly is and Shishedo and Phoenix bio
» probably are also.
»
»
» I want my temples refilled with my own fuccckkkking hair. Not a wig.

yea man i hear you. a wig is not even an option for me either. i’d shave it off before i flush $$$ down the toilet on that bullshyt.

Aderans, man, they dont care about hairloss. jus their cheap oss asian wigs. as far as HM is concerned as a whole i think our ONLY hope is ICX. all the other italian and foregin companies claiming to be working on Hm are not even worth reading about at this point. and as far as ICX goes, i’m giving ICX until the end of the year to get their <> together before i write them off too.

enough of the press releases saying nothing but empty words. screw how much the stocks rise and fall. just show me you can get out of phase II successfully. i dont even need to see photos.


#5

If I have to pick between INtercytex and Aderans, it would definitely be Intercytex being the real deal, at least they have their phase 2 trial going, as simple as that. It’s true, Aderans is a wig company, and they own Bosley too, there might be too much bureaucracies in the organization for them to focus on HM research.


#6

let the wigs come


#7

» aderans is all smoke & mirrors dude.

So is Intercytex. They’ve done next to nothing when you think about it.


#8

» » aderans is all smoke & mirrors dude.
»
» So is Intercytex. They’ve done next to nothing when you think about it.

Well, they are the world leader in HM technology. They have dumped millions of dollars into research. They have finished phase I trials averaging 66% per injection in 5 of 7 patients. They are currently in phase II trials. Etc…

What you call nothing actually has been a heck of a lot of work for a fairly decent sized team of people. Although the PR dept. has repeatedly put up a hoax of a potential 2008 release, Kemp has never gone along with that timeline.

So if your pessimism is based upon the 2008 pipe-dream that is meant to drive the stock price up, then you haven’t been paying very close attention to the science hiding beneath the ticker symbol. Kemp spelled it out rather clearly when he recently stated, “2010 at the earliest.” IOW, don’t count on 2010.


#9

» » aderans is all smoke & mirrors dude.
»
» So is Intercytex. They’ve done next to nothing when you think about it.

they’ve done more than you ‘if you think about it’. they’re in phase II of the trials - who else has gotten this far?

seems like everytime there is a waiting period the pessimists start popping up like warts and making idiotic statements with no facts to back up their claims.

‘boo hoo they wont post pics of the HM results from phase I’
‘boo hoo they wont release HM in 2007/2008’
‘boo hoo katherine wont answer my emails’
‘boo hoo the stocks are falling and that means the company will go bankrupt next week’

go buy a freakin wig or something until a cure comes and stop sounding like a bunch of girls on their periods, geez, lol… :stuck_out_tongue: