FY2021 First Half Results

from the beginning

2021 First Half Results(January-June)

@

• 2021 1H Key Headlines

• 2021 1H (January-June): Executive Summary

• Net Sales YoY: Growth Overseas Accelerated, Driven by China, EMEA, and Americas;Japan Impacted by States of Emergency

• 2021 1H Net Sales by Brand: Skin Beauty Brands Continued Strong;Captured Makeup and Fragrance Recovery in EMEA and Americas

• Japan: Impacted by Intermittent States of Emergency

• China: Strong Momentum Continued Both On- and Offline,Growth Accelerated to Over +30% vs. 2019

• Seized Recovery Opportunities to Deliver Growth

• COGs Ratio in 1H: Solid Improvement

• Cost Structure in 1H: Strict Cost Management in Line with Sales Growth

• 2021 1H Operating Profit by Reportable Segment:Driven by Organizational Changes in EMEA and Americas; Offset Extraordinary Losses LY

• Americas, EMEA: Commercial-Based Profitability Improved, Fixed Costs Declined, Benefiting from Organizational and Structural Reforms

• Digital Acceleration Across Shiseido

• Cash Flow Management: Continued Investment in Growth Areas (Factories, DX);Cash Generation through Sale of Idle Assets and Inventory Reductions

• Strategic Actions in 2021 2H

• Strategic Investment in Skin Beauty Brands

• 2021 1H Summary and Full Year Outlook

• Build Back Better toward Full Recovery:Our Commitment to WIN 2023

• Global Transformation: In Line with Plan

Be a Global Winner with Our Heritage

• Supplemental Data 1:KPI Trends

• Supplemental Data 2:2021 Q2 (April-June) Executive Summary

• Supplemental Data 3:2021 Q2 Change in Net Sales by Brand

• Supplemental Data 4:2021 Q2 Net Sales and Operating Profit by Reportable Segment

• Supplemental Data 5:2021 1H Net Sales and Operating Profit by Reportable Segment

• Supplemental Data 6:2021 1H Net Sales in Japan, China, and Asia Pacific by Category

• Supplemental Data 7:2021 1H SG&A

• Supplemental Data 8:2021 1H Cost Structure

• Supplemental Data 9:2021 1H Capital Expenditures; Depreciation and Amortization

• Supplemental Data 10:Extraordinary Income and Losses

• Supplemental Data 11:FY 2021 Outlook (as of May 12, 2021)

Q&A

• Q&A 1

• Q&A 2

• Q&A 3

• Q&A 4

• Q&A 5

• Q&A 6

• Q&A 7

• Q&A 8

@