2025 Results (January—December)
and 2026 Outlook

from the beginning

2025 Results (January - December) and 2026 Outlook

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2025 Results and 2026 Outlook: Key Highlights

2026 Forecast

2026 Core OP Forecast

Driving Stronger Cash Generation

Dividend

Our Initiatives to Yield Tangible Results; Set to Drive Significant Improvement in Capital Efficiency

2025 Executive Summary

Core Operating Profit: Reinvest Fixed-cost Savings to Accelerate Growth

Net Sales YoY by Region: Stronger 2H Momentum, while Q4 Challenges Remained in Americas

Japan: Key Brands Delivered Strong Growth, Driven by Our Innovation Strategies, and Improved Profitability Significantly

China & Travel Retail: Continued Recovery with China Share Gains and Growth Driven by Cle de Peau Beaute and NARS; Fixed-cost Reduced via Structural Reforms

Americas: Profit Decline Mitigated by Structural Reforms and Cost Management

Asia Pacific: Market Returned to Growth, with Our Innovation Driving Share Gains EMEA: Fragrances Continued Strong Growth, Contributing to Steady Profit Gains

Progress on Structural Reforms and Global Cost Reduction

Driving Sustainable Growth and Corporate Value

Delivering Stable Profit Growth Enabled by Diversified Regional Footprint

Creating a Virtuous Growth Cycle through Targeted Investment in High-profit Brands

Transforming into Lean Organization; Boosting Productivity for Stronger Competitiveness

Asset-Light Model Geared to Higher Operating Efficiency: Steadfast Progress on ROIC Improvement

2026: Ensuring Solid Growth by Leveraging a Resilient Brand Portfolio

Core Brand - SHISEIDO : Re-accelerating as a Global Growth Engine

Core Brand - Cle de Peau Beaute : Creating Enduring Value of Luxury

Core Brand - NARS : Leveraging Creativity to Drive Growth

Next Brand - ELIXIR : Expanding Its Reach as the Next Growth Driver in Asia

Next Brand - ANESSA : Creating New Growth Opportunities via Category Expansion

Next Brands - Fragrance Brands, Dr. Dennis Gross Skincare

Drunk Elephant Turnaround

Adopt Cutting-Edge Bold Science / Technology Across Brands; Building a Category-Focused Growth Model

Horizontal Deployment of Technologies Leading to Tangible Results

Creating Sustainable Social Value through Business Growth

Governance Enhancement: Foundations for Maximizing Corporate Value

Strive to Achieve Targets for 2026: Unwavering Commitment to Maximizing Corporate Value

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Q&A

• Q&A 1

• Q&A 2

• Q&A 3

• Q&A 4

• Q&A 5

• Q&A 6