资生堂集团Shiseido（4911.T）2025年半年度业绩报告「TSE」（英文版）（27页）.pdf

1、Kentaro Fujiwara President and CEOAyako HirofujiChief Financial OfficerAugust 6,2025Shiseido Company,Limited2025 First Half Results(JanuaryJune)In this document,statements other than historical facts are forward-looking statements that reflect our plans and expectations.These forward-looking stateme

2、nts involve risks,uncertainties,and other factors that may cause actual results and achievements to differ from those anticipated in these statements.Steady execution of Action Plan 2025-2026;accelerated fixed cost reductions to achieve sustainable profitable growth amid market volatility Japan:sign

3、ificant boost to profitability thanks to structural reform benefits China&Travel Retail:bottomed out,resilient margins amid declining sales Americas:accelerated transformation under the new leadership,yielding additional structural reform benefits of 5.0 bn Elevated financial discipline Core OP:23.4

4、 bn(YoY:+4.1 bn):exceeded 1H profit target via global-wide cost management Optimized CAPEX,accelerated asset-light strategies aiming to maximize ROIC Full-year forecasts unchanged Expect downside risks to achieving sales target amid of challenging market conditions Unwavering commitment to deliverin

5、g core OP target of 36.5 bn via accelerated transformation and global-wide cost management3Key Highlights of 1H 2025 Results and Full-Year Outlook(Billion yen)1H 2024%ofNet Sales1H 2025%ofNet SalesYoYChangeYoYChange%YoYFX-Neutral%YoYLfL%*1Net Sales508.5100%469.8100%38.78%6%6%Core Operating Profit19.

6、33.8%23.45.0%+4.1+21%Non-recurring Items22.04.3%5.31.1%+16.7-Operating Profit2.70.5%18.13.8%+20.8-Profit before Tax4.20.8%19.24.1%+15.0+356%Income Tax Expense4.00.8%10.12.2%+6.1+153%Profit Attributable to Owners of Parent0.00.0%9.52.0%+9.5-EBITDA*245.58.9%48.510.3%+3.1+7%Free Cash Flow27.55.4%17.53.