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For the fiscal year that concluded on December 31, the cosmetics company said that total revenues increased by 5.7 percent to almost 1.07 trillion yen, or $8.1 billion. To 34.2 billion yen ($260.6 million), or net profit, there was a 27.1 percent decline. For the year, operating profit decreased by 53.7 percent.

Additionally, Shiseido unveiled its “Shift 2025 and Beyond” growth strategy for the years 2023 to 2025. This comes after a prior strategy known as “Win 2023 and Beyond,” which was first presented in 2021. Shiseido intends to revive the growth of its Japanese business under its revised strategy, as this goal was missed during the previous business plan. According to Shiseido, it will prioritise brand, innovation, and people in order to reach a core operating margin of 12% by 2025 and 15% in 2027. As growth catalysts, the company’s flagship brands Shiseido and Cle de Eau Beauté will be leveraged.

Shiseido projects a net profit decline of 18.1% to 28 billion yen for the current fiscal year and a net sales decline of 6.3% to 1 trillion yen.