Net Sales, Operating Profit, and Operating Margin1
Net Profit (Loss) per Share2 and Return on Equity3, 4
Interest-Bearing Debt and Interest-Bearing Debt Ratio3, 5
EBITDA6 and Free Cash Flow
Net Sales by Reportable Segment1, 7, 8, 10, 11, 12
Operating Profitability by Reportable Segment1, 7, 9, 10, 11, 12
The fiscal year ended December 31, 2015 is the 9 months from April 1, 2015 to December 31, 2015 for Shiseido and its consolidated subsidiaries in Japan and the 12 months from January 1, 2015 to December 31, 2015 for all other subsidiaries. On the website, it is referred to as “the year ended December 2015” in the text and as “2015/12” in tables, charts, and graphs.
Net profit (loss) per share is calculated before dilution based on the average number of shares outstanding during the fiscal year.
Shiseido Group subsidiaries in the Americas formerly recognized samples and promotional items associated with marketing activities at stores as assets when acquired and expensed them when shipped to customers. However, effective the year ended March 2012, these subsidiaries began to expense these items when acquired as part of its efforts to standardize Group accounting policies. The Shiseido Group applied this change retrospectively and restated the figures for the year ended March 2011 accordingly. Effective from the fiscal year ended March 31, 2014, certain subsidiaries of the Shiseido Group retrospectively adopted a new standard for Employee Benefits (IAS 19, amended June 16, 2011) and changed the method for recognizing changes in net defined benefit obligation. The Shiseido Group applied this change retrospectively and restated the consolidated financial statements for the fiscal year ended March 31, 2013, accordingly.
For calculating consolidated ROE for the year ended December 2015, the numerator used is net profit attributable to owners of parent for the nine months ended December 31, 2015 for Shiseido and its consolidated subsidiaries whose fiscal year ended in March, and for the 12 months ended December 31, 2015 for consolidated subsidiaries whose fiscal year ended in December.
Interest-bearing debt ratio = Interest-bearing debt / Invested capital* *Invested capital = Interest-bearing debt + Equity
EBITDA (Earnings before interest, tax, depreciation and amortization) = Income (loss) before income taxes + Interest expense + Depreciation and amortization expense + Impairment loss on goodwill and other intangible assets
Domestic Professional Division sales are included in the Global Business segment.
Net sales by reportable segment represent sales to external customers only and do not include intersegment/interarea sales or transfers.
Operating margin by reportable segment does not include eliminations/corporate.
Segments were changed to reflect application of the “Revised Accounting Standard for Disclosures about Segments of an Enterprise and Related Information” in the year ended March 2011. The change in segments has been retrospectively applied to data for years ended March 2010 and earlier.
The Company partially revised its reportable segment classification method effective from the year ended December 2015. Accordingly, the “Domestic Cosmetics Business” and “Global Business” segments were reclassified as the “Japan Business” and “Global Business” segments, respectively. Taking into account this change, certain subsidiaries previously included in the “Domestic Cosmetics Business” segment were reallocated to “Global Business” and “Other.” Moreover, in order to accurately grasp actual operating results in each segment, the allocation method for certain expenses was also revised.
Effective from the year ended December 2016, the Company has revised its reportable segment classifications to the “Japan Business,” “China Business,” “Asia Pacific Business,” “Americas Business,” “EMEA business,” and “Travel Retail Business”
segments, method in line with the Group’s internal financial management structure.
Effective from the year ended December 2017, the Company revised its reportable segment classifications to the “Japan Business,” “China Business,” “Asia Pacific Business,” “Americas Business,” “EMEA Business,” “Travel Retail Business,” and “Professional Business” segments, in line with the Group’s internal management structure. Segment information for the year ended December 2017 has been restated in line with changes in the method of classifying reportable segments in year ended December 2018.
Shiseido Share Price & Nikkei Stock Average
Price/Earnings Ratio (PER)1, 2 & Price/Book Value Ratio (PBR)3
Cash Dividends per Share, Consolidated Payout Ratio1 & Dividend Yield4
PER and consolidated payout ratio are not presented for the year ended March 2013 because of the net loss.
Price/Earnings ratio = Closing stock price at fiscal year-end / Net profit per share
Price/Book value ratio = Closing stock price at fiscal year-end / Net assets per share
Dividend yield = Cash dividends per share / Closing stock price at fiscal year-end
Human and Social Value
Percentage of Female Leaders1
Shiseido has been actively promoting women to positions of leadership. Overseas, over 60% of leadership positions are held by women. In Japan, through the further promotion of efforts that encourage the active role of female employees, Shiseido aims to raise the percentage of female leaders to 40% by 2020.
Stability Rate for Employees in Japan Returning to Work after Taking Childcare Leave2
Since 1990, Shiseido has introduced systems and programs to raise the productivity of employees by helping them balance work with childcare and nursing care. As a result, the stability rate for employees in Japan returning to work after taking childcare leave has remained at a high level.
Number and Ratio of Non-Japanese Hires in Japan3, 4
Track Record of Mid-Career Hires in Japan3
Shiseido is strengthening the promotion of diversity because it believes that collaboration among employees with diverse ideas and values enables to create new value. As such, the number of non-Japanese hires in Japan has increased drastically since the year ended March 2012. Shiseido is also emphasizing mid-career hiring, which has seen a significant increase in recent years.
For the years ended March 2012 through March 2015, the percentage of female leaders is as of April 1 each year in Japan and January 1 each year overseas. For the period ended December 2015 and thereafter, the percentage of female leaders is as of December 31 for both Japan and overseas. In Japan, the definition for women in management positions is the same as the one used by the Ministry of Health, Labour and Welfare
Number of employees who returned to work after taking childcare leave in the previous fiscal year and are still working as of the end of the current year / Total number of employees who returned to work after taking childcare leave in the previous fiscal year x 100
Shiseido Company, Limited data
Figures for the fiscal year ended March 2012 are as they were on March 31, 2012, and figures for the fiscal years ended December 2017 and December 2018 are as they were on December 31.