Overcome Challenges
Aiming for Early Recovery and Long-Term Growth

from the beginning

Overcome Challenges Aiming for Early Recovery and Long-Term Growth

• Achieved VISION 2020 Targets Ahead of Schedule

• Tokyo Stock Exchange The 8th Corporate Value Improvement Award:Excellence Award

• Japan Association of Corporate Directors Corporate Governance of the Year 2019:METI Minister’s Award

• Original Plan for 2020

• Emergency Response by Shiseido

• Business Impact

• Signs of Recovery in China

• Key Initiatives to Protect Corporate Value

• Management Prepared for the Unexpected

• Aiming for Medium-to-Long-Term Growth

• OUR MISSION

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• Now Is the Time: The Power of Beauty for Society

• One Shiseido: Solidarity of People