Shiseido has released its fiscal year 2021 results that showed net sales were 1,035.2 billion yen, compared to 920.9 billion yen in 2020. The company revised its consolidated forecast for the year, which was previously announced at 1,044.0 billion yen.
According to Shiseido, "The forecast was based on the assumption of gradual market recovery in line with the COVID-19 vaccination rollout while incorporating the impacts of business transfers and other structural reforms, and foreign currency effects. However, in the fourth quarter, the company’s net sales were weaker than expected in some countries and regions, particularly Japan, due to the resurgence of COVID-19."
Net profit was 42.4 billion yen.
Operating profit was 41.6 billion yen, which was previously forecast at 32 billion yen.
"On the other hand, operating profit will exceed our previous forecast due to such factors as lower cost of sales resulting from an improved product mix as well as effective group-wide cost management, mainly streamlining expenses in line with market changes," the company announced.
Fourth Quarter 2021
Net sales were 289.8 billion yen, compared to 267.2 billion yen in the previous year.
Operating profit was 15.3 billion yen, compared to 6.1 billion yen in the previous year.
Net profit was 5.7 billion yen, compared to 2.0 billion yen in the previous year.
Shiseido projects net sales for fiscal year 2022 will be 1,100 billion yen.
Net profit is projected to be 40.0 billion yen.