THE WHAT? Shiseido reported a significant improvement in profitability for the first half of 2026, with core operating profit rising 90.1% year-on-year to ¥44.4 billion. Reported net sales increased 6.2% to ¥499.0 billion, although like-for-like sales edged down 0.2%.
THE DETAILS For the six months ended June 30, operating profit more than doubled to ¥41.9 billion, while profit attributable to owners of the parent increased 211.4% to ¥29.7 billion. Regional performance was mixed: China & Travel Retail sales rose 10% on a reported basis but slipped 0.1% like-for-like, while Asia Pacific grew 2.1% like-for-like. Japan, the Americas and EMEA recorded like-for-like declines of 0.4%, 0.9% and 1.2%, respectively. Profitability improved notably in the Americas, which returned to core operating profit, while China & Travel Retail core operating profit increased 22.7% to ¥47.6 billion. Shiseido maintained its full-year 2026 forecast of ¥990 billion in net sales and ¥69 billion in core operating profit.
THE WHY? For the beauty industry, the results indicate that Shiseido is making progress on profitability even as underlying sales remain subdued, with improved performance in the Americas and Asia Pacific helping strengthen its global cosmetics business.
Source: Shiseido
