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49112026 Q2 / First HalfPrimeIFRS

Shiseido (4911) FY2026 Q2 Earnings Report

For FY2026 Q2, revenue came to ¥499.0B (+6.2% year on year) and operating income ¥41.9B (+131.8%). The segment drivers and cash flow follow.

Shiseido Company,Limited

August 5, 2026

Raw Materials & Chemicals/Chemicals

Table of Contents

Financial Highlights

Net Sales: ¥498.96B
Operating Income: ¥41.92B
Net Income: ¥29.01B
EPS: ¥74.32

Income Statement

Item	Current	Prior	YoY %
Net Sales	¥498.96B	¥469.83B	+6.2%
Cost of Sales	¥106.07B	¥106.61B	−0.5%
Gross Profit	¥392.89B	¥363.22B	+8.2%
SG&A Expenses	¥356.29B	¥347.52B	+2.5%
Operating Income	¥41.92B	¥18.08B	+131.8%
Equity Method Investment Income	¥272M	¥312M	−12.8%
Profit Before Tax	¥44.20B	¥19.20B	+130.2%
Income Tax Expense	¥15.19B	¥10.12B	+50.0%
Net Income	¥29.01B	¥9.08B	+219.5%
Net Income Attributable to Owners	¥29.70B	¥9.54B	+211.5%
Total Comprehensive Income	¥43.33B	−¥15.74B	+375.2%
Basic EPS	¥74.32	¥23.87	+211.4%
Diluted EPS	¥74.30	¥23.86	+211.4%

Balance Sheet

Item	Current End	Prior End	Change
Current Assets	¥480.62B	¥471.51B	+¥9.10B
Accounts Receivable	¥156.72B	¥163.33B	−¥6.61B
Inventories	¥151.62B	¥147.13B	+¥4.49B
Non-current Assets	¥793.25B	¥795.74B	−¥2.49B
Property, Plant & Equipment	¥276.32B	¥283.81B	−¥7.49B
Intangible Assets	¥175.57B	¥176.12B	−¥543M
Goodwill	¥60.87B	¥58.79B	+¥2.08B
Total Assets	¥1.27T	¥1.27T	+¥6.61B
Accounts Payable	¥104.84B	¥141.57B	−¥36.73B
Non-current Liabilities	¥270.59B	¥301.00B	−¥30.40B
Total Liabilities	¥619.91B	¥645.99B	−¥26.07B
Total Equity	¥653.95B	¥621.27B	+¥32.68B
Capital Stock	¥64.51B	¥64.51B	¥0
Capital Surplus	¥65.26B	¥65.86B	−¥594M
Retained Earnings	¥342.70B	¥320.61B	+¥22.09B
Treasury Stock	−¥1.51B	−¥1.87B	+¥356M
Shareholders' Equity	¥636.62B	¥600.76B	+¥35.86B
Equity Ratio	50.0%	47.4%	+2.6%

Cash Flow Statement

Item	Current	Prior	Change
Operating Cash Flow	¥31.64B	¥37.89B	−¥6.25B
Investing Cash Flow	−¥9.12B	−¥20.41B	+¥11.28B
Financing Cash Flow	−¥12.20B	−¥31.41B	+¥19.22B
Cash and Cash Equivalents	¥105.67B	¥91.84B	+¥13.83B
Free Cash Flow	¥22.52B	-	-

Profitability Ratios

Item	Value
Net Profit Margin	6.0%
Gross Profit Margin	78.7%
Debt-to-Equity Ratio	0.95x
Effective Tax Rate	34.4%

Year-over-Year Comparison

Item	YoY Change
Net Sales YoY Change	+6.2%
Operating Income YoY Change	+131.8%
Profit Before Tax YoY Change	+130.2%
Net Income YoY Change	+219.5%
Net Income Attributable to Owners YoY Change	+211.4%

Item	Value
Shares Outstanding (incl. Treasury)	400.00M shares
Treasury Stock	376K shares
Average Shares Outstanding	399.56M shares
Book Value Per Share	¥1,636.41

Dividend Information

Item	Amount
Q2 Dividend	¥30.00

Segment Information

Segment	Revenue	Operating Income
Americas	¥54.57B	¥2.02B
AsiaPacific	¥37.06B	¥2.22B
ChinaAndTravelRetail	¥191.41B	¥47.63B
EMEA	¥66.86B	−¥3.39B
Japan	¥144.70B	¥20.91B
OperatingSegmentsNotIncludedInReportableSegmentsAndOtherRevenueGeneratingBusiness	¥4.36B	−¥173M

※ セグメント利益の測定基礎: core_operating

Full Year Forecast

Item	Forecast
Net Sales Forecast	¥990.00B
Operating Income Forecast	¥59.00B
Net Income Attributable to Owners Forecast	¥42.00B
Basic EPS Forecast	¥105.12
Dividend Per Share Forecast	¥60.00