Shiseido has announced its financial results for Fiscal Year 2019.
According to the company, FY 2019 net sales reached ¥1,131,547 million, an increase of 3.4% over FY 2018 net sales.
Shiseido stated, "In 2020, we initially planned to accelerate growth by sustaining growth in prestige brands, expanding the China and travel retail businesses, improving profitability in the Americas and EMEA businesses, steadily growing the Japan business, establishing a stronger supply base, and integrating and expanding Drunk Elephant. However, from the second half of 2019, the economic environment remained uncertain due to deterioration in the Hong Kong and South Korean markets, the impact of trade friction between the U.S. and China, and fluctuations in the exchange rate. In addition, the Japan business fell significantly below our plan before and after the consumption tax hike. In response to these changes in the business environment, we forecast consolidated net sales of ¥1,220 billion, operating profit of ¥117 billion, ordinary profit of ¥117 billion, and net profit attributable to owners of the parent of ¥77.5 billion."