Procter & Gamble will sell its Japanese adult diaper business to Daio Paper Corp. exiting a market that is growing 5-10% each year as the population grays. P&G announced in February it was looking to divest its Attento adult diaper brand because it did not fit into its global brand expansion strategy. Attento diapers are sold mainly in Japan with some distribution in Hong Kong. It is P&G’s only adult diaper brand.
The acquisition makes Daio the No. 2 ranked player in the market after Uni-Charm Corp. Other competitors include include Hakujuji Co. Ltd. and Kao Corp.