Shiseido Co Ltd

4911: XTKS (JPN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Shiseido Earnings: Bottom Line Weighed by Noncash Impairments; Fair Value Unchanged

Lorraine Tan , Nicole Lim

Nov 11, 2025

Shiseido recorded an operating loss of JPY 33.4 billion for the first nine months of 2025, weighed by a JPY 46.8 billion impairment loss on goodwill due to weak Americas profitability. The company halved its full-year operating profit guidance, with no change to core operating profit.

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Shiseido Co Ltd

Shiseido Earnings: Bottom Line Weighed by Noncash Impairments; Fair Value Unchanged

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