EL7.AI
StocksMedium•10 November 2026•
2 min read

Shiseido Raises Core Operating Profit Forecast to ¥87 Billion After 124.3% Growth

Key Facts

1Nine-month net sales rose 6.8% to ¥741,143 million, and core operating profit increased 124.3% to ¥67,458 million.
2The company raised its 2026 net sales forecast to ¥1,025,000 million and its core operating profit forecast to ¥87,000 million.
3Sales growth was 0.2% after adjusting for currency effects and 0.7% on a like-for-like basis, versus reported growth of 6.8%.
4Shiseido kept its 2026 annual dividend at ¥60 per share, including ¥30 paid as an interim dividend and ¥30 expected at year-end.

Shiseido released results on November 10, 2026, for the nine months ended September 30, reporting net sales of ¥741,143 million, up 6.8% year over year. Core operating profit rose 124.3% to ¥67,458 million over the same period. But sales growth was 0.2% after adjusting for currency effects and 0.7% on a like-for-like basis, compared with reported growth of 6.8%. Alongside the results, the company raised its forecasts for the fiscal year ending December 31, 2026. The figures show a divergence between higher nominal sales and limited growth when currency effects are excluded.

Shiseido raised its net sales forecast for the fiscal year to ¥1,025,000 million, from a previous estimate of ¥990,000 million. It said the weaker yen lifted the forecast through a positive currency translation effect. It added that weaker like-for-like sales in Japan, Europe, the Middle East and Africa, the Americas, and Asia-Pacific put sales below its previous forecast. By contrast, the company raised its core operating profit forecast to ¥87,000 million, from ¥69,000 million previously. It attributed the higher core operating profit forecast to cost management, currency fluctuations and tariff refunds.

The revision included raising the operating profit forecast to ¥87,000 million from ¥59,000 million. The estimate for profit before tax also increased to ¥87,500 million, compared with ¥60,000 million in the previous forecast. Shiseido raised its forecast for profit attributable to owners of the parent to ¥62,000 million from ¥42,000 million. For annual comparison, the company reported net sales of ¥970.0 billion in 2025 and a loss attributable to owners of the parent of ¥40.7 billion. In the same year, core operating profit was ¥44.5 billion, with a margin of 4.6%, exceeding the initial target of ¥36.5 billion.

The company kept its planned annual dividend for 2026 at ¥60 per share. This includes an interim dividend of ¥30 per share already paid and a year-end dividend of ¥30 per share. Shiseido shares, listed under ticker 4911.t, closed at ¥3,861 on November 9, 2026. The results were released the following day, November 10, while the forecast covers the fiscal year ending December 31, 2026. The published results cover the nine months through September 30, not the third quarter alone.

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