Financials
Shiseido: 50 fiscal years of results, 1970–2025
- Revenue · FYE Dec 2025
- ¥970bn
- Operating profit · FYE Dec 2025
- -¥29bn
- Net profit · FYE Dec 2025
- -¥41bn
- Total assets
- ¥1.27tn
- Equity ratio
- 45.8%
- Fiscal years on record
- 50 · 1970–2025
This page carries 50 fiscal years of results, from 1970 to 2025. 6 years in that range carry no figure on record and are left out rather than interpolated. It is stitched from 4 sources — securities reports for the modern years, and company yearbooks or printed corporate histories for the older ones. Each column in the table below is footnoted with the one it came from. Revenue peaked in 2019 and has not returned to that level since. The company reported a net loss in 7 of those years, most recently in 2025.
Shiseido: long-term performance & turning pointsSales (revenue) and profit-margin ratio
Sales (¥ bn)Net margin (%)| Fiscal year | Unit | 1970 *1 FYE Nov | 1971 *1 FYE Nov | 1972 *1 FYE Nov | 1973 *1 FYE Nov | 1974 *1 FYE Nov | 1975 *2 FYE Nov | 1976 *2 FYE Nov | 1977 *2 FYE Nov | 1978 *2 FYE Nov | 1979 *2 FYE Nov | 1980 *2 FYE Nov | 1981 *2 FYE Nov | 1982 *2 FYE Nov | 1983 *2 FYE Nov | 1984 *2 FYE Nov | 1992 *3 FYE Mar | 1993 *3 FYE Mar | 1994 *3 FYE Mar | 1995 *3 FYE Mar | 1996 *3 FYE Mar | 1997 *3 FYE Mar | 1998 *3 FYE Mar | 1999 *3 FYE Mar | 2000 *3 FYE Mar | 2001 *3 FYE Mar | 2002 *4 FYE Mar | 2003 *4 FYE Mar | 2004 *4 FYE Mar | 2005 *4 FYE Mar | 2006 *4 FYE Mar | 2007 *4 FYE Mar | 2008 *4 FYE Mar | 2009 *4 FYE Mar | 2010 *4 FYE Mar | 2011 *4 FYE Mar | 2012 *4 FYE Mar | 2013 *4 FYE Mar | 2014 *4 FYE Mar | 2015 *4 FYE Mar | 2015 *4 FYE Dec | 2016 *4 FYE Dec | 2017 *4 FYE Dec | 2018 *4 FYE Dec | 2019 *4 FYE Dec | 2020 *4 FYE Dec | 2021 *4 FYE Dec | 2022 *4 FYE Dec | 2023 *4 FYE Dec | 2024 *4 FYE Dec | 2025 *4 FYE Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | JPY | ¥103bn | ¥113bn | ¥124bn | ¥155bn | ¥172bn | ¥203bn | ¥229bn | ¥251bn | ¥266bn | ¥280bn | ¥295bn | ¥302bn | ¥306bn | ¥318bn | ¥323bn | ¥553bn | ¥562bn | ¥549bn | ¥540bn | ¥561bn | ¥589bn | ¥621bn | ¥604bn | ¥597bn | ¥595bn | ¥590bn | ¥621bn | ¥624bn | ¥640bn | ¥671bn | ¥695bn | ¥723bn | ¥690bn | ¥644bn | ¥671bn | ¥682bn | ¥678bn | ¥762bn | ¥778bn | ¥763bn | ¥850bn | ¥1.00tn | ¥1.09tn | ¥1.13tn | ¥921bn | ¥1.04tn | ¥1.07tn | ¥973bn | ¥991bn | ¥970bn |
| YoY | % | — | +9.7% | +10.0% | +25.4% | +10.4% | +18.3% | +12.5% | +9.6% | +6.1% | +5.2% | +5.3% | +2.6% | +1.3% | +3.9% | +1.7% | — | +1.5% | -2.2% | -1.6% | +3.8% | +4.9% | +5.5% | -2.7% | -1.3% | -0.3% | -0.9% | +5.3% | +0.5% | +2.5% | +4.9% | +3.5% | +4.2% | -4.6% | -6.7% | +4.1% | +1.7% | -0.7% | +12.4% | +2.0% | — | +11.4% | +18.2% | +8.9% | +3.4% | -18.6% | +12.4% | +3.1% | -8.8% | +1.8% | -2.1% |
| Operating profit | JPY | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ¥39bn | ¥50bn | ¥64bn | ¥50bn | ¥50bn | ¥45bn | ¥39bn | ¥26bn | ¥50bn | ¥28bn | ¥38bn | ¥37bn | ¥80bn | ¥108bn | ¥114bn | ¥15bn | ¥101bn | ¥47bn | ¥28bn | ¥7.6bn | -¥29bn |
| YoY | % | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | +28.5% | +27.0% | -21.4% | +1.0% | -11.7% | -12.1% | -33.5% | +90.8% | -44.4% | — | -2.4% | +118.5% | +34.8% | +5.0% | -86.8% | +570.7% | -53.7% | -39.7% | -73.0% | -478.9% |
| Ordinary profit | JPY | ¥11bn | ¥11bn | ¥11bn | ¥15bn | ¥14bn | ¥19bn | ¥21bn | ¥22bn | ¥23bn | ¥23bn | ¥24bn | ¥25bn | ¥26bn | ¥29bn | ¥30bn | — | — | — | — | — | — | — | — | — | — | ¥28bn | ¥46bn | ¥36bn | ¥31bn | ¥42bn | ¥54bn | ¥65bn | ¥52bn | ¥52bn | ¥45bn | ¥39bn | ¥28bn | ¥51bn | ¥29bn | ¥38bn | ¥37bn | ¥80bn | — | — | — | — | — | — | — | — |
| Net profit | JPY | ¥5.0bn | ¥5.3bn | ¥5.7bn | ¥7.1bn | ¥6.3bn | ¥7.3bn | ¥8.5bn | ¥9.3bn | ¥9.7bn | ¥10bn | ¥11bn | ¥10bn | ¥11bn | ¥12bn | ¥12bn | ¥16bn | ¥13bn | ¥15bn | ¥11bn | ¥18bn | ¥19bn | ¥17bn | ¥10bn | ¥15bn | -¥45bn | -¥23bn | ¥24bn | ¥28bn | -¥8.8bn | ¥14bn | ¥25bn | ¥35bn | ¥19bn | ¥34bn | ¥13bn | ¥15bn | -¥15bn | ¥26bn | ¥34bn | ¥23bn | ¥32bn | ¥23bn | ¥61bn | ¥74bn | -¥12bn | ¥31bn | ¥21bn | ¥22bn | -¥11bn | -¥41bn |
| YoY | % | — | +7.8% | +7.5% | +23.0% | -10.5% | +15.4% | +16.4% | +9.4% | +4.3% | +5.2% | +3.9% | -3.8% | +6.9% | +12.8% | +0.8% | — | -17.5% | +10.6% | -22.6% | +54.9% | +9.1% | -12.0% | -38.7% | +47.6% | -396.1% | — | — | +12.7% | -132.0% | — | +75.0% | +40.5% | -45.5% | +74.1% | -62.2% | +14.2% | -200.7% | — | +28.7% | — | +38.4% | -29.3% | +170.5% | +19.7% | -115.8% | — | -32.5% | +3.3% | -149.8% | — |
| Operating margin | % | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 5.8% | 7.2% | 8.8% | 7.2% | 7.8% | 6.6% | 5.7% | 3.8% | 6.5% | 3.5% | 4.9% | 4.3% | 8.0% | 9.9% | 10.1% | 1.6% | 9.7% | 4.4% | 2.9% | 0.8% | -3.0% |
| Net margin | % | 4.8% | 4.7% | 4.6% | 4.5% | 3.7% | 3.6% | 3.7% | 3.7% | 3.7% | 3.6% | 3.6% | 3.4% | 3.6% | 3.9% | 3.8% | 2.9% | 2.4% | 2.7% | 2.1% | 3.1% | 3.2% | 2.7% | 1.7% | 2.5% | -7.6% | -3.8% | 3.9% | 4.4% | -1.4% | 2.1% | 3.6% | 4.9% | 2.8% | 5.2% | 1.9% | 2.1% | -2.2% | 3.4% | 4.3% | 3.0% | 3.8% | 2.3% | 5.6% | 6.5% | -1.3% | 3.0% | 2.0% | 2.2% | -1.1% | -4.2% |
| Standard | Japanese GAAP | Japanese GAAP | Japanese GAAP | Japanese GAAP | Japanese GAAP | Japanese GAAP | Japanese GAAP | Japanese GAAP | Japanese GAAP | Japanese GAAP | Japanese GAAP | Japanese GAAP | Japanese GAAP | Japanese GAAP | Japanese GAAP | Japanese GAAP | Japanese GAAP | Japanese GAAP | Japanese GAAP | Japanese GAAP | Japanese GAAP | Japanese GAAP | Japanese GAAP | Japanese GAAP | Japanese GAAP | Japanese GAAP | Japanese GAAP | Japanese GAAP | Japanese GAAP | Japanese GAAP | Japanese GAAP | Japanese GAAP | Japanese GAAP | Japanese GAAP | Japanese GAAP | Japanese GAAP | Japanese GAAP | Japanese GAAP | Japanese GAAP | Japanese GAAP | Japanese GAAP | Japanese GAAP | IFRS | IFRS | IFRS | IFRS | IFRS | IFRS | IFRS | IFRS | |
| Basis | Parent only | Parent only | Parent only | Parent only | Parent only | Parent only | Parent only | Parent only | Parent only | Parent only | Parent only | Parent only | Parent only | Parent only | Parent only | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated |
- *1 Kaisha Nenkan (Company Yearbook), 1976 edition — first- and second-half figures combined
- *2 Kaisha Nenkan (Company Yearbook), 1986 edition
- *3 Kaisha Nenkan (Company Yearbook)
- *4 Securities report
Cost structure Cost of sales SG&A Other operating costs Operating profit Operating margin
Where each yen of revenue goes — cost of sales, SG&A and what is left as operating profit (¥ bn, stacked)
| Fiscal year | Unit | 2006 *1 FYE Mar | 2007 *1 FYE Mar | 2008 *1 FYE Mar | 2009 *1 FYE Mar | 2010 *1 FYE Mar | 2011 *1 FYE Mar | 2012 *1 FYE Mar | 2013 *1 FYE Mar | 2014 *1 FYE Mar | 2015 *1 FYE Mar | 2015 *1 FYE Dec | 2016 *1 FYE Dec | 2017 *1 FYE Dec | 2018 *1 FYE Dec | 2019 *1 FYE Dec | 2020 *1 FYE Dec | 2021 *1 FYE Dec | 2022 *1 FYE Dec | 2023 *1 FYE Dec | 2024 *1 FYE Dec | 2025 *1 FYE Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | JPY | ¥671bn | ¥695bn | ¥723bn | ¥690bn | ¥644bn | ¥671bn | ¥682bn | ¥678bn | ¥762bn | ¥778bn | ¥763bn | ¥850bn | ¥1.01tn | ¥1.09tn | ¥1.13tn | ¥921bn | ¥1.01tn | ¥1.07tn | ¥973bn | ¥991bn | ¥970bn |
| YoY | % | — | +3.5% | +4.2% | -4.6% | -6.7% | +4.1% | +1.7% | -0.7% | +12.4% | +2.1% | — | +11.4% | +18.2% | +8.9% | +3.4% | -18.6% | +9.7% | +5.7% | -8.8% | +1.8% | -2.1% |
| Cost of sales | JPY | ¥177bn | ¥186bn | ¥186bn | ¥172bn | ¥160bn | ¥169bn | ¥163bn | ¥167bn | ¥190bn | ¥196bn | ¥196bn | ¥208bn | ¥231bn | ¥232bn | ¥255bn | ¥238bn | ¥272bn | ¥327bn | ¥260bn | ¥237bn | ¥227bn |
| SG&A | JPY | ¥455bn | ¥459bn | ¥474bn | ¥469bn | ¥434bn | ¥458bn | ¥480bn | ¥485bn | ¥523bn | ¥554bn | ¥529bn | ¥606bn | ¥693bn | ¥755bn | ¥763bn | ¥668bn | ¥767bn | ¥718bn | ¥697bn | ¥751bn | ¥726bn |
| Other operating costs | JPY | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ¥46bn |
| Operating profit | JPY | ¥39bn | ¥50bn | ¥63bn | ¥50bn | ¥50bn | ¥44bn | ¥39bn | ¥26bn | ¥50bn | ¥28bn | ¥38bn | ¥37bn | ¥80bn | ¥108bn | ¥114bn | ¥15bn | ¥101bn | ¥47bn | ¥28bn | ¥7.6bn | -¥29bn |
| YoY | % | — | +28.6% | +26.9% | -21.4% | +0.9% | -11.7% | -12.0% | -33.4% | +90.6% | -44.4% | — | -2.3% | +118.7% | +34.7% | +5.1% | -86.9% | +572.1% | -53.7% | -39.6% | -73.1% | -480.0% |
| Operating margin | % | 5.8% | 7.2% | 8.8% | 7.2% | 7.8% | 6.6% | 5.7% | 3.8% | 6.5% | 3.6% | 4.9% | 4.3% | 8.0% | 9.9% | 10.1% | 1.6% | 10.0% | 4.4% | 2.9% | 0.8% | -3.0% |
| Change | pp | — | +1.4pp | +1.6pp | -1.6pp | +0.6pp | -1.2pp | -0.9pp | -1.9pp | +2.7pp | -2.9pp | — | -0.6pp | +3.7pp | +1.9pp | +0.2pp | -8.5pp | +8.4pp | -5.6pp | -1.5pp | -2.1pp | -3.8pp |
- *1 Securities report (yuka shoken hokokusho), as filed
Balance sheet Total assets Equity Interest-bearing debt Equity ratio
Total assets, equity and interest-bearing debt (¥ bn), with the equity ratio (%)
| Fiscal year | Unit | 2005 *1 FYE Mar | 2006 *1 FYE Mar | 2007 *1 FYE Mar | 2008 *1 FYE Mar | 2009 *1 FYE Mar | 2010 *1 FYE Mar | 2011 *1 FYE Mar | 2012 *1 FYE Mar | 2013 *1 FYE Mar | 2014 *1 FYE Mar | 2015 *1 FYE Mar | 2015 *1 FYE Dec | 2016 *1 FYE Dec | 2017 *1 FYE Dec | 2018 *1 FYE Dec | 2019 *1 FYE Dec | 2020 *1 FYE Dec | 2021 *1 FYE Dec | 2022 *1 FYE Dec | 2023 *1 FYE Dec | 2024 *1 FYE Dec | 2025 *1 FYE Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | JPY | ¥701bn | ¥672bn | ¥740bn | ¥676bn | ¥607bn | ¥775bn | ¥739bn | ¥721bn | ¥716bn | ¥801bn | ¥824bn | ¥809bn | ¥935bn | ¥949bn | ¥1.01tn | ¥1.22tn | ¥1.20tn | ¥1.22tn | ¥1.21tn | ¥1.26tn | ¥1.33tn | ¥1.27tn |
| YoY | % | — | -4.2% | +10.1% | -8.6% | -10.3% | +27.8% | -4.7% | -2.5% | -0.7% | +12.0% | +2.8% | — | +15.6% | +1.6% | +6.3% | +20.7% | -1.2% | +0.9% | -0.3% | +3.7% | +6.1% | -4.8% |
| Equity | JPY | ¥359bn | ¥374bn | ¥373bn | ¥372bn | ¥363bn | ¥371bn | ¥307bn | ¥290bn | ¥303bn | ¥359bn | ¥409bn | ¥393bn | ¥394bn | ¥424bn | ¥450bn | ¥498bn | ¥486bn | ¥546bn | ¥570bn | ¥597bn | ¥610bn | ¥580bn |
| YoY | % | — | +4.1% | -0.2% | -0.2% | -2.4% | +2.0% | -17.1% | -5.5% | +4.4% | +18.3% | +14.1% | — | +0.3% | +7.8% | +5.9% | +10.7% | -2.4% | +12.4% | +4.4% | +4.7% | +2.2% | -4.9% |
| Interest-bearing debt | JPY | ¥94bn | ¥82bn | ¥124bn | ¥36bn | ¥24bn | ¥156bn | ¥96bn | ¥92bn | ¥149bn | ¥97bn | ¥67bn | ¥43bn | ¥69bn | ¥37bn | ¥31bn | ¥191bn | ¥224bn | ¥162bn | ¥166bn | ¥161bn | ¥239bn | ¥212bn |
| Equity ratio | % | 51.2% | 55.7% | 50.5% | 55.1% | 59.9% | 47.8% | 41.6% | 40.3% | 42.4% | 44.8% | 49.7% | 48.5% | 42.1% | 44.7% | 44.5% | 40.8% | 40.3% | 44.9% | 47.1% | 47.6% | 45.8% | 45.8% |
| Change | pp | — | +4.5pp | -5.2pp | +4.6pp | +4.8pp | -12.1pp | -6.2pp | -1.3pp | +2.1pp | +2.4pp | +4.9pp | — | -6.4pp | +2.6pp | -0.2pp | -3.7pp | -0.5pp | +4.6pp | +2.2pp | +0.5pp | -1.8pp | 0.0pp |
- *1 Securities report (yuka shoken hokokusho), as filed
Cash flow Operating CF Investing CF Financing CF
Cash generated by operations, spent on investment and raised or repaid in financing (¥ bn)
| Fiscal year | Unit | 2002 *1 FYE Mar | 2003 *1 FYE Mar | 2004 *1 FYE Mar | 2005 *1 FYE Mar | 2006 *1 FYE Mar | 2007 *1 FYE Mar | 2008 *1 FYE Mar | 2009 *1 FYE Mar | 2010 *1 FYE Mar | 2011 *1 FYE Mar | 2012 *1 FYE Mar | 2013 *1 FYE Mar | 2014 *1 FYE Mar | 2015 *1 FYE Mar | 2015 *1 FYE Dec | 2016 *1 FYE Dec | 2017 *1 FYE Dec | 2018 *1 FYE Dec | 2019 *1 FYE Dec | 2020 *1 FYE Dec | 2021 *1 FYE Dec | 2022 *1 FYE Dec | 2023 *1 FYE Dec | 2024 *1 FYE Dec | 2025 *1 FYE Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating CF | JPY | ¥37bn | ¥67bn | ¥47bn | ¥52bn | ¥22bn | ¥69bn | ¥75bn | ¥43bn | ¥69bn | ¥68bn | ¥53bn | ¥42bn | ¥84bn | ¥32bn | ¥61bn | ¥59bn | ¥95bn | ¥93bn | ¥76bn | ¥64bn | ¥127bn | ¥34bn | ¥89bn | ¥48bn | ¥110bn |
| YoY | % | — | +83.1% | -29.6% | +11.4% | -58.4% | +218.3% | +8.5% | -43.2% | +62.3% | -2.7% | -22.2% | -20.1% | +100.6% | -61.9% | — | -2.3% | +61.3% | -3.0% | -18.4% | -15.2% | +98.5% | -73.5% | +164.0% | -45.6% | +127.0% |
| Investing CF | JPY | -¥33bn | -¥44bn | -¥43bn | -¥25bn | -¥13bn | -¥18bn | -¥5.8bn | -¥28bn | -¥205bn | -¥30bn | -¥21bn | -¥26bn | -¥17bn | ¥12bn | -¥23bn | -¥71bn | -¥1.1bn | -¥103bn | -¥203bn | -¥70bn | ¥64bn | -¥42bn | -¥36bn | -¥84bn | -¥43bn |
| Financing CF | JPY | ¥21bn | -¥12bn | -¥46bn | ¥17bn | -¥30bn | ¥1.8bn | -¥96bn | -¥32bn | ¥120bn | -¥40bn | -¥35bn | -¥25bn | -¥47bn | -¥58bn | -¥30bn | ¥22bn | -¥53bn | -¥30bn | ¥114bn | ¥47bn | -¥180bn | -¥39bn | -¥76bn | ¥23bn | -¥77bn |
| Cash & equivalents | JPY | ¥90bn | ¥101bn | ¥59bn | ¥108bn | ¥89bn | ¥145bn | ¥120bn | ¥92bn | ¥77bn | ¥89bn | ¥83bn | ¥80bn | ¥110bn | ¥101bn | ¥105bn | ¥113bn | ¥157bn | ¥112bn | ¥97bn | ¥136bn | ¥157bn | ¥120bn | ¥105bn | ¥98bn | ¥92bn |
| YoY | % | — | +12.0% | -41.3% | +82.4% | -17.8% | +63.2% | -17.1% | -23.7% | -16.0% | +14.8% | -6.3% | -3.3% | +37.3% | -8.5% | — | +7.8% | +38.6% | -28.7% | -12.8% | +39.9% | +14.8% | -23.6% | -12.4% | -5.9% | -6.7% |
- *1 Securities report (yuka shoken hokokusho), as filed
Key ratios Operating margin Net margin ROE Equity ratio
Profitability and balance-sheet strength (%). ROE uses year-end equity.
| Fiscal year | Unit | 2002 *1 FYE Mar | 2003 *1 FYE Mar | 2004 *1 FYE Mar | 2005 *1 FYE Mar | 2006 *1 FYE Mar | 2007 *1 FYE Mar | 2008 *1 FYE Mar | 2009 *1 FYE Mar | 2010 *1 FYE Mar | 2011 *1 FYE Mar | 2012 *1 FYE Mar | 2013 *1 FYE Mar | 2014 *1 FYE Mar | 2015 *1 FYE Dec | 2016 *1 FYE Dec | 2017 *1 FYE Dec | 2018 *1 FYE Dec | 2019 *1 FYE Dec | 2020 *1 FYE Dec | 2021 *1 FYE Dec | 2022 *1 FYE Dec | 2023 *1 FYE Dec | 2024 *1 FYE Dec | 2025 *1 FYE Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating margin | % | — | — | — | — | 5.8% | 7.2% | 8.8% | 7.2% | 7.8% | 6.6% | 5.7% | 3.8% | 6.5% | 4.9% | 4.3% | 8.0% | 9.9% | 10.1% | 1.6% | 10.0% | 4.4% | 2.9% | 0.8% | -3.0% |
| Change | pp | — | — | — | — | — | +1.4pp | +1.6pp | -1.6pp | +0.6pp | -1.2pp | -0.9pp | -1.9pp | +2.7pp | -1.6pp | -0.6pp | +3.7pp | +1.9pp | +0.2pp | -8.5pp | +8.4pp | -5.6pp | -1.5pp | -2.1pp | -3.8pp |
| Net margin | % | -3.8% | 3.9% | 4.4% | -1.4% | 2.2% | 3.6% | 4.9% | 2.8% | 5.2% | 1.9% | 2.1% | -2.2% | 3.4% | 3.0% | 3.8% | 2.3% | 5.6% | 6.5% | -1.3% | 3.1% | 2.0% | 2.2% | -1.1% | -4.2% |
| Change | pp | — | +7.7pp | +0.5pp | -5.8pp | +3.6pp | +1.4pp | +1.3pp | -2.1pp | +2.4pp | -3.3pp | +0.2pp | -4.3pp | +5.6pp | -0.4pp | +0.8pp | -1.5pp | +3.3pp | +0.9pp | -7.8pp | +4.4pp | -1.1pp | +0.2pp | -3.3pp | -3.1pp |
| ROE | % | — | — | — | -2.5% | 3.9% | 6.8% | 9.5% | 5.3% | 9.1% | 4.2% | 5.0% | -4.8% | 7.3% | 5.9% | 8.2% | 5.4% | 13.7% | 14.8% | -2.4% | 5.7% | 3.7% | 3.6% | -1.8% | -7.0% |
| Change | pp | — | — | — | — | +6.4pp | +2.9pp | +2.7pp | -4.2pp | +3.8pp | -4.9pp | +0.8pp | -9.8pp | +12.1pp | -1.4pp | +2.3pp | -2.8pp | +8.3pp | +1.1pp | -17.2pp | +8.1pp | -2.0pp | -0.1pp | -5.4pp | -5.2pp |
| Equity ratio | % | — | — | — | 51.2% | 55.7% | 50.5% | 55.1% | 59.9% | 47.8% | 41.6% | 40.3% | 42.4% | 44.8% | 48.5% | 42.1% | 44.7% | 44.5% | 40.8% | 40.3% | 44.9% | 47.1% | 47.6% | 45.8% | 45.8% |
| Change | pp | — | — | — | — | +4.5pp | -5.2pp | +4.6pp | +4.8pp | -12.1pp | -6.2pp | -1.3pp | +2.1pp | +2.4pp | +3.7pp | -6.4pp | +2.6pp | -0.2pp | -3.7pp | -0.5pp | +4.6pp | +2.2pp | +0.5pp | -1.8pp | 0.0pp |
- *1 Securities report (yuka shoken hokokusho), as filed
Revenue in US dollars Revenue (US$m)
The revenue line above, converted at the average ¥/US$ rate of each figure’s own year — never today’s.
Between 1970–2025, Shiseido’s revenue grew 9.4-fold in yen (4.2% a year). Converted at each year’s own average rate, the same span is 23-fold in dollars (5.8% a year), from $285m to $6.5bn. The dollar figure grew faster because the yen was stronger at the end of the period than at the start — a yen of revenue in 2025 bought more dollars than one in 1970.
| Fiscal year | Unit | 1970 *1 FYE Nov | 1971 *1 FYE Nov | 1972 *2 FYE Nov | 1973 *3 FYE Nov | 1974 *3 FYE Nov | 1975 *3 FYE Nov | 1976 *3 FYE Nov | 1977 *3 FYE Nov | 1978 *3 FYE Nov | 1979 *3 FYE Nov | 1980 *4 FYE Nov | 1981 *4 FYE Nov | 1982 *4 FYE Nov | 1983 *4 FYE Nov | 1984 *4 FYE Nov | 1992 *4 FYE Mar | 1993 *4 FYE Mar | 1994 *4 FYE Mar | 1995 *4 FYE Mar | 1996 *4 FYE Mar | 1997 *4 FYE Mar | 1998 *4 FYE Mar | 1999 *4 FYE Mar | 2000 *4 FYE Mar | 2001 *4 FYE Mar | 2002 *4 FYE Mar | 2003 *4 FYE Mar | 2004 *4 FYE Mar | 2005 *4 FYE Mar | 2006 *4 FYE Mar | 2007 *4 FYE Mar | 2008 *4 FYE Mar | 2009 *4 FYE Mar | 2010 *4 FYE Mar | 2011 *4 FYE Mar | 2012 *4 FYE Mar | 2013 *4 FYE Mar | 2014 *4 FYE Mar | 2015 *4 FYE Dec | 2015 *4 FYE Dec | 2016 *4 FYE Dec | 2017 *4 FYE Dec | 2018 *4 FYE Dec | 2019 *4 FYE Dec | 2020 *4 FYE Dec | 2021 *4 FYE Dec | 2022 *4 FYE Dec | 2023 *4 FYE Dec | 2024 *4 FYE Dec | 2025 *4 FYE Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | USD | $285m | $313m | $403m | $567m | $586m | $680m | $783m | $975m | $1.3bn | $1.2bn | $1.3bn | $1.4bn | $1.2bn | $1.3bn | $1.4bn | $4.4bn | $5.1bn | $5.4bn | $5.7bn | $5.2bn | $4.9bn | $4.7bn | $5.3bn | $5.5bn | $4.9bn | $4.7bn | $5.4bn | $5.8bn | $5.8bn | $5.8bn | $5.9bn | $7.0bn | $7.4bn | $7.3bn | $8.4bn | $8.6bn | $6.9bn | $7.2bn | $6.4bn | $6.3bn | $7.8bn | $9.0bn | $9.9bn | $10bn | $8.6bn | $9.4bn | $8.1bn | $6.9bn | $6.5bn | $6.5bn |
| YoY | % | — | +9.7% | +28.6% | +40.9% | +3.3% | +16.0% | +15.1% | +24.6% | +35.6% | -8.0% | +6.9% | +5.5% | -10.3% | +9.0% | +1.6% | — | +15.6% | +6.4% | +6.9% | -10.3% | -5.7% | -2.5% | +11.9% | +4.3% | -11.6% | -3.8% | +13.8% | +7.7% | +0.6% | -0.7% | +2.2% | +18.7% | +5.4% | -0.5% | +14.5% | +1.7% | -18.8% | +3.7% | -10.8% | — | +23.9% | +14.7% | +10.7% | +4.7% | -16.9% | +9.3% | -13.8% | -14.8% | -5.6% | -0.9% |
| Revenue as filed | JPY | ¥103bn | ¥113bn | ¥124bn | ¥155bn | ¥172bn | ¥203bn | ¥229bn | ¥251bn | ¥266bn | ¥280bn | ¥295bn | ¥302bn | ¥306bn | ¥318bn | ¥323bn | ¥553bn | ¥562bn | ¥549bn | ¥540bn | ¥561bn | ¥589bn | ¥621bn | ¥604bn | ¥597bn | ¥595bn | ¥590bn | ¥621bn | ¥624bn | ¥640bn | ¥671bn | ¥695bn | ¥723bn | ¥690bn | ¥644bn | ¥671bn | ¥682bn | ¥678bn | ¥762bn | ¥778bn | ¥763bn | ¥850bn | ¥1.00tn | ¥1.09tn | ¥1.13tn | ¥921bn | ¥1.04tn | ¥1.07tn | ¥973bn | ¥991bn | ¥970bn |
| Rate applied | ¥/US$ | ¥360.00 | ¥360.00 | ¥308.00 | ¥274.00 | ¥293.00 | ¥299.00 | ¥292.00 | ¥257.00 | ¥201.00 | ¥230.00 | ¥226.69 | ¥220.55 | ¥249.06 | ¥237.48 | ¥237.53 | ¥126.67 | ¥111.18 | ¥102.22 | ¥94.05 | ¥108.77 | ¥121.02 | ¥130.89 | ¥113.84 | ¥107.74 | ¥121.52 | ¥125.28 | ¥115.92 | ¥108.16 | ¥110.15 | ¥116.28 | ¥117.77 | ¥103.33 | ¥93.53 | ¥87.77 | ¥79.78 | ¥79.79 | ¥97.60 | ¥105.84 | ¥121.02 | ¥121.02 | ¥108.84 | ¥112.16 | ¥110.40 | ¥109.01 | ¥106.78 | ¥109.78 | ¥131.37 | ¥140.51 | ¥151.50 | ¥149.65 |
- *1 1949-1971: Fixed Bretton Woods peg ¥360/$ (Dodge Line 1949; Smithsonian ¥308 from Dec 1971).
- *2 1972: Smithsonian peg ¥308/$ (held until Feb 1973 float).
- *3 1973-1979: JIL (Japan Institute for Labour Policy and Training) g0001.xlsx — fiscal-year (Apr–Mar) basis, integer-rounded. PROVISIONAL; upgrade to BOJ FXERM07 calendar-year later.
- *4 1980-2026: Bank of Japan stat-search FM08'FXERM07 (Tokyo market, USD/JPY spot, 17:00 fixing, monthly average) — calendar-year average of monthly averages.
- *5 Provisional — part-year average, not a full calendar year.
Reporting basis
Which accounting standard each stretch of the series was filed under, and whether the accounts are consolidated.
The series crosses 3 reporting regimes — parent-only Japanese GAAP for 1970–1984; consolidated Japanese GAAP for 1992–2017; and consolidated IFRS for 2018–2025. Figures are not strictly comparable across a change of basis: consolidation in particular adds subsidiaries that were previously outside the accounts.
| Fiscal years | Standard | Basis | Years |
|---|---|---|---|
| 1970–1984 | Japanese GAAP | parent-only | 15 |
| 1992–2017 | Japanese GAAP | consolidated | 27 |
| 2018–2025 | IFRS | consolidated | 8 |
All figures are in Japanese yen as filed. Where a foreign-currency comparison is needed elsewhere on this site, yen amounts are converted at the average rate of each figure's own year — not today's rate. Exchange rates & sources →
Read the company history → 日本語版（詳細）— full financial data in Japanese →
Data API
Shiseido’s history, financials, executives and
shareholders are published as static JSON — no key, plain GET.
Full specification →
/api/4911/manifest.json ·/api/4911/history.json ·/api/4911/timeline.json ·/api/4911/decisions.json ·/api/4911/executives.json ·/api/4911/shareholders.json ·/api/4911/financials.json ·/api/4911/financials-longterm.json ·/api/4911/segments.json ·/api/4911/regions.json ·/api/4911/workforce.json · /api/4911/decisions/{slug}.json