VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Kao Corporation vs Cochlear Limited

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

Kao Corporation

4452 · Tokyo Stock Exchange

Market cap (USD)$2.9T
Gross margin (TTM)39.2%
Operating margin (TTM)9.5%
Net margin (TTM)7.3%
SectorConsumer
IndustryHousehold & Personal Products
CountryJP
Data as of2025-12-28
Moat score
60/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Kao Corporation's moat claims, evidence, and risks.

View 4452 analysis

Cochlear Limited

COH · ASX

Market cap (USD)$17B
Gross margin (TTM)74.5%
Operating margin (TTM)22.7%
Net margin (TTM)16.2%
SectorHealthcare
IndustryMedical - Devices
CountryAU
Data as of2026-01-04
Moat score
81/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Cochlear Limited's moat claims, evidence, and risks.

View COH analysis

Comparison highlights

  • Moat score gap: Cochlear Limited leads (81 / 100 vs 60 / 100 for Kao Corporation).
  • Segment focus: Kao Corporation has 5 segments (33.5% in Hygiene Living Care Business); Cochlear Limited has 3 segments (62.4% in Cochlear Implants).
  • Moat breadth: Kao Corporation has 5 moat types across 2 domains; Cochlear Limited has 8 across 3.

Primary market context

Kao Corporation

Hygiene Living Care Business

Market

Household & fabric care and sanitary consumer packaged goods

Geography

Japan and Asia (with select global brands)

Customer

Consumers (retail)

Role

Branded manufacturer

Revenue share

33.5%

Cochlear Limited

Cochlear Implants

Market

Cochlear implant systems (internal implant + external sound processors) for severe-to-profound hearing loss

Geography

Global

Customer

Hospitals/ENT clinics and audiology programs (providers) serving implant candidates/recipients; reimbursed by public/private payers

Role

Medical device OEM / platform owner (implant + processor + fitting software + clinical support)

Revenue share

62.4%

Side-by-side metrics

Kao Corporation
Cochlear Limited
Ticker / Exchange
4452 - Tokyo Stock Exchange
COH - ASX
Market cap (USD)
$2.9T
$17B
Gross margin (TTM)
39.2%
74.5%
Operating margin (TTM)
9.5%
22.7%
Net margin (TTM)
7.3%
16.2%
Sector
Consumer
Healthcare
Industry
Household & Personal Products
Medical - Devices
HQ country
JP
AU
Primary segment
Hygiene Living Care Business
Cochlear Implants
Market structure
Oligopoly
Oligopoly
Market share
n/a
60%-65% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
60 / 100
81 / 100
Moat domains
Demand, Supply
Demand, Legal, Supply
Last update
2025-12-28
2026-01-04

Moat coverage

Shared moat types

Brand TrustService Field NetworkCapex Knowhow Scale

Kao Corporation strengths

Training Org Change CostsDesign In Qualification

Cochlear Limited strengths

Compliance AdvantageIP Choke PointInstalled Base ConsumablesFormat Lock InData Workflow Lockin

Segment mix

Kao Corporation segments

Full profile >

Hygiene Living Care Business

Oligopoly

33.5%

Health Beauty Care Business

Competitive

26%

Cosmetics Business

Competitive

15%

Business Connected Business

Competitive

2.4%

Chemical Business

Competitive

23.1%

Cochlear Limited segments

Full profile >

Cochlear Implants

Oligopoly

62.4%

Services

Monopoly

25.9%

Acoustics

Oligopoly

11.7%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

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Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

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Curation & Accuracy

This directory blends AI‑assisted discovery with human curation. Entries are reviewed, edited, and organized with the goal of expanding coverage and sharpening quality over time. Your feedback helps steer improvements (because no single human can capture everything all at once).

Details change. Pricing, features, and availability may be incomplete or out of date. Treat listings as a starting point and verify on the provider’s site before making decisions. If you spot an error or a gap, send a quick note and I’ll adjust.