2025 First Quarter Results (January–March)

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2025 First Quarter Results (January-March)

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Q1 2025 Key Highlights

Q1 2025 Executive Summary

Net Sales by Reportable Segment

Q1 2025 Net Sales by Brand

Core Operating Profit

Net Sales and Core Operating Profit by Reportable Segment

Japan: Consumer Purchases Maintained Momentum; Significant Boost to Profitability Thanks to Structural Reform

China & Travel Retail: Maintained Profitability via Fixed Cost Reduction and Agile Cost Management amid Sharp Sales Decline

Americas: Continue to Suffer Sharp Sales Decline with Drunk Elephant, Aiming for a Swift Turnaround under New Leadership

Asia Pacific: Drove Share Expansion amid Signs of Slowdown in Market EMEA: Posted Sales Decline due to Elevated Base in the Prior Year, but Consumer Purchases Remained Solid in Fragrances

Business Outlook

Tariff Impact and Countermeasures: Unwavering Commitment to Profit Targets of “Action Plan 2025-2026” by Advancing Current Initiatives and Implementing Additional Measures amid Uncertainty

2025 Full-year Forecast Remain Unchanged

NARS : Drive Sustainable Growth with Focus on Innovation, Hero Products and Elevating Brand Equity

Drunk Elephant : Drive Recovery through Diversified Consumer Engagement Strategy

Progress on Global Cost Structure Transformation

Americas: Drive Fundamental Improvement to Profitability

Completion of Action Plan 2025-2026: Shaping the Future of Shiseido

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Q&A

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• Q&A 8