Integrated Report 2021

Site Functionality

As part of our digitization efforts, we have added the following functionality to the online integrated report to make it more user-friendly for investors and other readers.

Side Navigation Menu

The right-hand side of each page lists the headers of each section. This menu gives an overview of content and page length and a convenient way to focus on particular topics of interest.

Read/Unread Status Icons

The site menu is an index of contents. These icons allow you to read contents in any order you like without getting lost.


You can now check related pages using hashtags such as “#Messages” or “#Growth Strategy.” Use keywords to gather information on topics of interest or to organize research items.

Site Search

The site search function has been newly added to allow for information search within the Integrated Report.


In response to requests for better readability, annotations are displayed by hovering your cursor over.

Download Text (PDF)

A text version of the Integrated Report 2021 downloadable in the PDF format has been newly added in response to many requests for offline browsing or a PDF version.

Scope of Report and Reference Guidelines

Reporting Period
From January 2021 to December 2021
Some information may refer to organizational structures and initiatives for 2022 if those have been recently updated.
Shiseido Company, Limited (the Company) and its consolidated subsidiaries (collectively, the Shiseido Group)
Reference Guidelines
In the compilation of this report concerning Shiseido’s value creation, we have referred to the International Integrated Reporting Framework of the International Integrated Reporting Council and the Guidance for Integrated Corporate Disclosure and Company-Investor Dialogues for Collaborative Value Creation of the Ministry of Economy, Trade and Industry of Japan.

For sustainability information, we have referred to the Environmental Reporting Guidelines (2018 edition) of the Ministry of the Environment of Japan, the Sustainability Reporting Standards of the Global Reporting Initiative, and the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).
Date of Issue
April 2022

Information Disclosure

The purpose of this Integrated Report is to provide a comprehensive overview of Shiseido’s management policies and strategies for medium-to-long-term value creation. More information, including in-depth content on our brands and innovation, is available on the Shiseido Group corporate website. Detailed financial information on the Company is provided in the Investors section of the website, while information concerning our sustainability strategies and activities related to the environment and society can be found in the Sustainability section.


Notes to Consolidated Financial Statements

This report does not include the consolidated financial statements and notes to the consolidated financial statements.
For the relevant financial information, please refer to Consolidated Financial Statements.

Notes on Forecasts

In this report, statements other than historical facts are forward-looking statements that reflect our plans and expectations. These forward-looking statements involve risks, uncertainties, and other factors that may cause actual results and achievements to differ from those anticipated in these statements.

Contact Information

Investor Relations Department

Shiseido Company, Limited
Address: 1-6-2, Higashi-shimbashi, Minato-ku, Tokyo 105-8310, Japan
Phone: +81-3-3572-5111 (Main)

For email inquiries