2024 First HaIf ResuIts (January-June) and Strategic Actions for Second Half

from the beginning

2024 First Half Results (January-June) and Strategic Actions for Second Half

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2024 1H Key Highlights

Full-year Forecast Maintained, Company-wide Commitment to Achieving Targets

2024 1H: Executive Summary

Fragrance and Drunk Elephant Remained Solid with Strength in EMEA; Sales Stalled Across Other Key Brands, Posting Negative to Single Digit Growth due to Weakness in Travel Retail, China, and Americas

Net Sales: Remained Almost Flat YoY in 2024 1H Japan and EMEA Achieved Double-digit Growth Offset by Negative Growth in Travel Retail, China, and Americas

Japan: Strong Growth by Core Brands, Steadily Expanded Market Share

China and Travel Retail: Dynamic Market Changes and Polarization Continued

EMEA and Asia Pacific: Strong Growth Americas: Temporary Production Decline, but on Track for Recovery in 2H

COGS Ratio: Steadily Improving as Business Transfer Impacts Diminish COGS Lfl Ratio: Improved from Q1 Thanks to Lower Inventory Write-offs, Mix Improvement, Price Hikes

Posted YoY Decline in Profit: Higher Profits Driven by Sales Growth in Japan, EMEA and Asia Pacific, Structural Reforms, Agile Cost Management More Than Offset by Sharp Profit Decline in Travel Retail

Our Strategic Approach to Chinese Consumers in an Ever-Changing Environment

Japan: Clearer Focus Accelerated Growth, Continue to Strengthen Actions in 2H

Global Cost Reduction and Profit Boosting

To Ensure Sustainable Growth Over the Medium to Long Term

Vision and Strategic Direction for 2024 and 2025

Japan: Accelerate Progress on "Mirai Shift NIPPON 2025"

Americas, EMEA and Asia Pacific: Accelerate Growth to Optimize Geographical Footprint

Our Views on Chinese Market

Tackle Our Fundamental Issues New Business Strategy to be Announced in late November 2024

Be a Global Winner with Our Heritage

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