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Highlights for the Year Ended December 2021
In the fiscal year 2021, the Company was globally affected by the spread of COVID-19 but managed to significantly recover net sales in all regions except Japan. As a result, net sales grew 7.8% year on year on an FX-neutral basis. Based on reported figures, net sales increased 12.4% year on year to ¥1,035.2 billion. Excluding such impacts as business transfers, or like for like, sales grew 11.9%.
Operating profit was up 177.9% year on year to ¥41.6 billion due to such factors as improved margins resulting from stronger sales, a more favorable product mix, and effective cost management in line with market changes.
Net profit attributable to owners of parent reached ¥42.4 billion, up ¥54.1 billion year on year, mainly thanks to increased operating profit and extraordinary gains recorded as a result of the Personal Care business transfer. These factors outweighed the impairment losses on trademark rights due to the termination of a license agreement for Dolce&Gabbana and on goodwill due to the transfer of the three makeup brands.
For the fiscal year under review, consolidated operating margin was 4.0%, consolidated return on equity (ROE) was 8.2%, and consolidated return on invested capital (ROIC) was 3.3%.