Shiseido’s Financial Struggle: Reports Nearly $250 Million Loss for First Nine Months

Shiseido suffers through September. The Japanese cosmetics company closed the first nine months of 2025 with an attributable net loss of 43,983 million yen ($286 million), compared with a profit of 754 million yen ($4.91 million) for the same period last year.

Revenues through September were 693,817 million yen ($4.21 billion), down 4% from the first nine months of the previous year. Costs associated with sales were 161,818 million yen ($1.54 billion), down 4%, while selling, general and administrative costs fell 6.2% to 520,586 million yen ($3.39 billion).

By market, Shiseido’s sales in Japan grew by just 0.1% to 219,105 million ($1.42 billion). “While the number of foreign visitors continues to increase, domestic sales of the business in Japan are showing signs of slowing down,“ the company explained in a statement.The company explained in a statement, while attributing the loss of strength in its local market to the lower willingness to spend and the convergence of prices between the Japanese and international markets.

Shiseido now expects to close the year with losses of almost $330 million 

The company posted 96,121 million yen ($626.3 million) in sales in Europe, Africa and the Middle East (Emea), up 5%, while in the Americas they fell 10.3% to 78,187 million ($509.4 million). In China and in travel locations, such as airports, they fell by 7.6% to 240.036 million ($1.56 billion), while in the rest of the Asia Pacific group of markets, meanwhile, Shiseido’s turnover contracted by 1.4% to 52.504 million ($342 million).

Shiseido booked an extraordinary charge of 46,818 million yen ($305 million) in the quarter due to the poorer performance in the Americas, linked to lower cash generation. Looking ahead to year-end, the company has lowered its revenue forecast compared to the initial target, “mainly due to the slowdown in tourism consumption in Japan, the slowdown in the U.S. market and the weakness of Drunk Elephant”.

Thus, Shiseido now expects to close the year with sales of 965 billion yen ($6.28 billion), 3% less than previously forecast. The red numbers will remain at the end of the fiscal year, with net attributable losses of 52 billion yen ($330 million), compared to profits of 6 billion yen ($3.91 million) at the beginning of the year.