PROBLEM TO BE SOLVED: To provide a fine dispersion system capable of being used for cosmetics or dermatologic preparations and not containing an oil-in-water type and water-in-oil type emulsifier.;SOLUTION: This pickering emulsion which is a water-in-oil type or oil-in- water type fine dispersion system comprises (1) an oily phase containing at least one kind of wax and/or one kind of oil-thickening agent, (2) an aqueous phase, (3) at least one kind of particles which have (a) an average particle diameter of 200 nm, exhibit (b) both the hydrophilic and lipophilic characteristics, namely an amphiphilic characteristic, and can be dispersed in both water and oils, and, if necessary, whose surfaces are (c) coated, and (4) at most 0.5 wt.% of one or more kinds of emulsifiers.;COPYRIGHT: (C)2000,JPO
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