The boycott could be a “trigger for Chinese consumers to switch away from Japanese premium cosmetics brands,” said analyst Wakako Sato
Controversial Fukushima Nuclear Waste Plan Spurs Chinese Boycott of Japanese CosmeticsBudrul Chukrut—SOPA Images/LightRocket/ Getty Imagesconsumer boycott in China over a planned release of water from the Fukushima Dai-Ichi nuclear plant is threatening to hurt Japanese cosmetics makers.began earlier this month when largely unproven allegations that water discharges from the plant are hazardous to health began trending on Chinese social media platforms.
The boycott could be a “trigger for Chinese consumers to switch away from Japanese premium cosmetics brands,” said Wakako Sato, an analyst for Mitsubishi UFJ Morgan Stanley Securities Co. Weaker local consumption is a more fundamental reason for Japanese brands’ underperformance, she added. Japan has maintained that the water, used to keep the fuel and debris at the disaster site cool, is safe considering it undergoes a treatment process to remove most radioactive elements before being diluted and released into the sea.
A spokesperson for P&G said in response to Bloomberg News queries that no radiation risks have been identified in the manufacturing site for SK-II and attributed online concerns to “misinformation.”
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