Shiseido Co Ltd Ord (SSDOF) Q3 2024 Earnings Call

Investor webinar replay

Watch the replay and follow the connected company analysis, news, and investor updates for Shiseido Company,limited.

Watch the replay

Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:03.856 From here, I would like to explain the third quarter performance for 2024. 00:00:03.856 -- 00:00:05.856 First, 00:00:05.979 -- 00:00:11.146 please take a look at summary on page 3. After the summer, travel retail in China faced 00:00:11.146 -- 00:00:16.273 further challenges. The third quarter was a quarter focused on achieving profit by thoroughly 00:00:16.273 -- 00:00:20.476 improving efficiency and scrutinizing costs. 00:00:22.301 -- 00:00:27.408 The good news is Japan. The results of the reforms implemented so far are 00:00:27.408 -- 00:00:31.896 clearly reflected in the significant increase in profits, which has become a key driver 00:00:31.896 -- 00:00:34.741 supporting the overall company's profitability. 00:00:34.741 -- 00:00:39.028 Consolidated net sales on a like-for-like basis, excluding the impact of foreign exchange 00:00:39.028 -- 00:00:43.756 and all business transfers, declined by 8% in the three months from July to September 00:00:43.756 -- 00:00:48.621 and by 3% on a cumulative basis for the third quarter. 00:00:49.188 -- 00:00:53.393 In Japan, the core brands continue to perform well with the launch of new products in 00:00:53.393 -- 00:00:56.557 the third quarter driving strong growth. 00:00:56.557 -- 00:01:01.584 Despite a slowdown in inbound sales, the overall business in Japan continued to 00:01:01.584 -- 00:01:05.767 show double-digit growth on a cumulative basis. 00:01:06.270 -- 00:01:11.337 In EMEA, sales declined in the third quarter due to shipping delays and other timing 00:01:11.337 -- 00:01:16.260 issues, but on a cumulative basis, sales showed an increase. 00:01:17.842 -- 00:01:22.310 On the other hand, in travel retail in China, the decline in Chinese consumer demand, 00:01:22.310 -- 00:01:26.317 wh...