2023 Results (January-December) and 2024 Outlook

from the beginning

2023 Results (January-December) and 2024 Outlook

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• 2023 Core OP \39.8 bn: Worst is Over, Ready to Recover in 2024

• 2023 (January-December): Executive Summary

• Strong Growth Delivered by NARS, Drunk Elephant, and Fragrance, while Weakening Sales in China and Travel Retail across the Brands

• Net Sales YoY: Sales Remained Largely in Line with Our Previous Forecast

• Japan: Accelerated Momentum Every Quarter, Gained Overall Market Share

• China: Market Environment Bottomed out after Q4 Challenges

• Travel Retail: Destocking on Track, Soon to Be Normalized

• Americas, EMEA, Asia Pacific : Delivered Double Digit Growth in 2023

• COGS LfL Ratio: Improved ca. 1pt YoY with Productivity Improvement, etc.

• FY2023 Core Operating Profit by Reportable Segment

• 2024 Sales Assumptions

• 2024 Forecast

Medium-Term Strategy SHIFT 2025 and Beyond Update - To Enhance Execution and Deliver Results

• Medium-Term Strategy SHIFT 2025 and Beyond

2024 and 2025

• Vision & Strategic Direction for 2024 and 2025

• Global Cost Reduction Measures: Completing Main Actions in 2024 1H to Ensure Full Impact in 2025

• Japan: Brand Portfolio Strategy

• Japan: Consumer Touchpoint Strategy

• China and Travel Retail (Asia) : Market Dynamics

• Winning in China: Strengthening Investments in Growth Opportunities

• Wining in China: Operational Reform for Productivity

• Driving Sales Growth: Accelerating Expansion in Japan, Americas, EMEA and Asia Pacific, Winning in China’s stabilizing market (China / TR Asia)

• Strengthening Investments in Core Brands

• 2023: Cutting Edge Innovation in Core Brands

• 2024: Innovative Product Launches

• Gross Profit Enhancement: Develop Growth Drivers to Maximize Results

• Financial Targets

• Improving Return on Invested Capital (ROIC)

• Improving Profitability and Productivity through FOCUS Implementation

• Towards 2030

• Route to Attain Global-Standard Profitability Levels

• PERSONAL BEAUTY WELLNESS COMPANY Strengthening our Core in Skincare while Expanding into New Beauty Frontiers

• Reinforcing Skin Beauty Category: Entering the Dermacosmetics Market through Acquisition of Dermatologist-led Prestige Skincare Brand; Dr. Dennis Gross Skincare

• Developing New Beauty Frontiers by Expanding the Skincare Category; Loose Skin, Second Skin, and Skincare-Active Foundation

• Creating New Lifestyle Values：Venturing Into the Inner Beauty Market SHISEIDO BEAUTY WELLNESS

• Localization of Innovation

• Focus Investment Areas to Drive Medium to Long-term Growth

• Sustainability

• BEAUTY INNOVATIONS FOR A BETTER WORLD

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Q&A

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