Shiseido Co Ltd

4911: XTKS (JPN)

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Shiseido Earnings: Profit Outlook Improves but Underlying Sales Growth Still Weak; Fair Value Up 14%

Ivan Su, Nicole Lim

Nov 11, 2026

Shiseido's third-quarter sales rose 8% year on year to JPY 242 billion, while core operating profit jumped 243% to JPY 23 billion. Management raised 2026 revenue and core operating profit guidance by 4% and 26%, respectively, lifting core operating margin to 8.5%.

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Shiseido Co Ltd

Shiseido Earnings: Profit Outlook Improves but Underlying Sales Growth Still Weak; Fair Value Up 14%

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