SSDOF - Shiseido Company Limited (SSDOY) Q4 2023 Earnings Call Transcript
2024-02-09 21:09:07 ET
Shiseido Company, Limited (SSDOY)
Q4 2023 Earnings Conference Call
February 9, 2024 3:30 AM ET
Company Participants
Ayako Hirofuji - Vice President, Investor Relations Department
Takayuki Yokota - Chief Financial Officer
Kentaro Fujiwara - Chief Operating Officer
Conference Call Participants
Akiko Kuwahara - JP Morgan
Wakako Sato - Morgan Stanley Securities
Presentation
Ayako Hirofuji
Thank you very much for waiting, everyone. Thank you very much for joining us in the business results briefing of Shiseido of the December period 2023.
And before we start the briefing session, there are some housekeeping announcements. And so we may mention the outlook for the future based on the current assumption, and this is associated risks and uncertainty. Please remember that the actual result may be different from our outlook currently.
Let me introduce Mr. Kentaro Fujiwara, COO; and Mr. Takayuki Yokota, CFO. I am Ayako Hirofuji. I will be the moderator for today from IR department. And today, we will cover the outline of business results, as well as the mid-term business strategy followed by Q&A. We plan to end the session by 7:00 p.m. Japan time and the briefing footage will be available late afterwards in recorded form at a later date.
Now, we would like to invite Mr. Yokota to brief on the results of 2023 and outlook of 2024.
Takayuki Yokota
[Foreign Language] [Interpreted]
In the previous Q3 business result presentation on November 10, we have explained about the downward revision of core operating profit to JPY35 billion from the initial plan of JPY60 billion. With this big revision, we as management understand the big impact it had the stock price and the trust of the stakeholders. We take this seriously and as a company are committed to turn around the business quickly and execute with solid action.
In result, the core operating profit for 2023 performed above the forecast of JPY35 billion to JPY39.8 billion. As we exceed the forecast, it is also a continuous challenge for us to improve on the accuracy of our forecast and the use of focus. On the other hand, for 2023, we were able to add some profit as a result of business management agility, although the business environment continued to drastically change in China and Travel Retail.
Even though the profit amount of JPY35 billion is far from satisfactory, we feel that we were able to achieve some fruit as a result of pursuing profit expansion. This slide summarizes the key points that are updated from the last business result presentation. Japan local captured solid recovery. The consumer purchase is accelerating its growth every quarter. Although the market is driven by low price range, the company's focus of mid to high price range grew strongly and expanding the market share for the full-year....
Shiseido Company, Limited (SSDOY) Q4 2023 Earnings Call Transcript