Shieseido has reported net sales of 722,417 million yen for the first nine months of fiscal 2023, ending September 30, 2023. This represents a 5.3% year-over-year decline compared to the 762,743 million yen posted in the same period of 2022. Core operating profit increased by 0.6 billion yen, year-over-year, to 36.8 billion yen.
In light of these results, Shiseido now anticipates full-year net sales of 980,000 million yen, an 8.2% year-over-year decline.
Key decliners included travel retail and the Chinese beauty market, the latter of which experienced reduced spending in part related to controversies related to Japan's release of radioactive water from the Fukushima nuclear plant.
That said, the company experienced "robust sales growth on a like-for-like basis in the Americas, EMEA and the Asia Pacific businesses."