Shiseido Firm, Restricted (SSDOY) Q1 2023 Earnings Name Transcript

Shiseido Firm, Restricted (OTCPK:SSDOY) Q1 2023 Earnings Convention Name Could 12, 2023 2:00 AM ET

Firm Contributors

Takayuki Yokota – Chief Monetary Officer

Convention Name Contributors

Akiko Kuwahara – JPMorgan

Katsuro Hirozumi – Daiwa Securities

Haruka Miyake – Morgan Stanley MUFG Securities

Shima Yamanaka – SMBC Nikko Securities

Yuji Ohana – Nomura Securities

Mitsuko Miyasako – Jefferies Securities

Hisae Kawamoto – UBS

Wakako Sato – Mitsubishi UFJ Morgan Stanley

Takayuki Yokota

I want to current to you the monetary outcomes for the primary quarter of 2023. Please seek advice from Web page 3. That is the important thing headlines for Q1 of 2023. And as you may see, we began the yr off with good efficiency. Like-for-like gross sales, excluding FX and enterprise switch affect was up by 7% year-on-year. Gross sales decline in China, as a result of an infection re-expansion in January, and in journey retail as a result of retailer stock changes, primarily in South Korea. Nevertheless, we’re on monitor with the steering.

However, Japan realized stable restoration led by sturdy performing excessive worth vary gross sales and with the improved new product launches that seize the recovering market demand. The market had confronted tough scenario from the COVID affect for a while, however we’re lastly accelerating the expansion momentum. Americas and India continued to carry out sturdy from final yr, contributing to the general development. By model, our international model, SHISEIDO, Clé de Peau Beauté, Drunk Elephant, and NARS captured sturdy development main the general efficiency.

E-commerce gross sales ratio was 34%. Though there was market stagnation for the Girls’s Day promotion in China, the EC gross sales worth globally is rising year-on-year. Drunk Elephant, the model with excessive e-commerce ratio carried out properly, contributing to drive the general EC gross sales. Core working revenue was a rise of ¥8.2 billion, primarily contributing to larger gross revenue from elevated gross sales in agile price

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