SSDOF - Shiseido Company Limited (SSDOY) Q1 2024 Earnings Call Transcript
2024-05-10 18:13:10 ET
Shiseido Company, Limited (SSDOY)
Q1 2024 Earnings Conference Call
May 10, 2024 04:30 AM ET
Company Participants
Kentaro Fujiwara - Chief Operating Officer
Ayako Hirofuji - Chief Financial Officer
Conference Call Participants
Akiko Kuwahara - JPMorgan Securities
Shima Yamanaka - SMBC Nikko
Mitsuko Miyasako - Mizuho
Oliver Matthew - CLSA
Presentation
Kentaro Fujiwara
So first off, as we have already announced on April 24, Mr. Yokota, the current CFO, will sit down at the end of June due to personal reasons. From July 1, Mr. Yokota will be succeeded by Ms. Hirofuji currently, Chief Investor Engagement Officer and Chief DE&I Officer, who assumed the position of Deputy CFO in May.
Since joining the company in 2005, Ms. Hirofuji has served as a company in various capacities, including Corporate Planning, President of overseas subsidiaries, General Manager of Strategy and Finance Department, General Manager of Investor Relations Department. And from this year, Chief DE&I Officer, she is very well versed in the company's global expansion and reform practices. And Mr. Yokota has been CFO since January 2021 has made many accomplishments during the difficult times, including the COVID crisis.
We shall strive for a smooth handover and aim to achieve sustainable profit growth and build a resilient business structure in 2024. We will complete our business transformation under the new structure while attaining growth and structural reform.
As for the FOCUS project, a renewal project of a general core system, which Mr. Yokota has been leading, its introduction is almost complete, and we are now entering the value-creation phase through the introduction of a new core system. I will lead this project directly as COO.
I would like to start by inviting Ms. Hirofuji to say a few words.
Ayako Hirofuji
My name is Hirofuji, and I assumed the position of CFO in July. I'm strongly aware that Shiseido is now in a very important phase to establish a highly profitable structure. So this is restructuring in Japan and other in other countries and regions.
I would also like to support from the finance aspect, Shiseido strong desire to further strengthen the core areas through further selection and concentration to achieve sustainable growth, as stated by our COO, Fujiwara....
Shiseido Company, Limited (SSDOY) Q1 2024 Earnings Call Transcript