Hello Kitty Faces Mid-Life Crisis at 40

Sanrio's business model, which focuses on licensing Hello Kitty's image rather than manufacturing products, has been highly successful, generating significant revenue. However, Hello Kitty faces challenges, including being Japan's third highest-grossing cartoon character and identity revelations. Sanrio plans to shift its strategy from low-cost licensing to more expensive marketing and retailing, despite recent setbacks.

What change in strategy did Sanrio announce that affected its shares?

Despite setbacks, what connection does Hello Kitty maintain?