Shiseido Co Ltd Ord (SSDOF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

investors, analysts, thank you very much for your attendance to Shiseido Company Limited 2025 second quarter earnings briefing. So today's disclaimer is shown on the screen. So today's session will be organized on audio only. Video and scripts will be posted on our website later. So today, the presenters will be Kentaroji Ujiwara, our president and CEO, and Ayako Hirofuji, CFO. Myself, IR department, Oshima, very pleased to meet you. I'm today's MC. And there will be presentation from Hirofuji and Fujiwara, and then there will be Q&A session. The time end will be around 5.45. Now, hand over to you, Hirofuji-san. Thank you very much. I will now explain our 2025 half-year results. Please take a look at page 3, the first half result and four-year outlook. Our current top priority is to steadily implement our action plan and build a business structure that generates stable profit. There are three key highlights I would like to explain. First is the result of our structure reform. Continued from Q1, in Japan, in China travel retail, the fixed cost reduction effort we have been working on since last year is clearly reflected in the first half figure, improving profitability and maintaining profit margins despite declining net sales. As there was a few media coverage in Americas under the new leadership structure, we accelerated personnel and organizational rationalization in July. As a result, we will accumulate the benefits of our annual structural reform across the company. Second is the strengthening financial discipline. Given the challenging market environment, we conducted further cost review across the company and despite the decline in net sales, our company core operating profit for the first half exceeded in our plan. In addition to our cost reductions in PL, we ...