Shiseido : 2015 Jan. Monthly Sales(store sales·shipment)

Domestic Sales

D* ataupdatedinthefollowingmonthotfhecurrenmt onth

Updated

2/27/2015

(Year-on-yeacr hangeinsalesfotrhedom esti cosmeticsover-the-countesr ales)

(EstimatesbyShiseido)

*Cosmeticst:otaolcf ounselingandself-selectioncosmetics

[OverviewoSf alesinJanuary]

Domesticcosmeticsover-the-counter salesincreasedovearyeaar goinJanuaryt,hankstosteadily improvedmomentumgeneratedbythemajolrineinnovati oneffortswhichstartedinthethirdquarterI.n particularo, veralsl alesocf ounse lingcosmeticswerehighetrhanayeaer arlierr,eflectingagoodstart

madeby Prior,anewlinetargetingseniorcitizensl aunchedinJanuary,thecontinuedstrong performanceoftheglobalbrands SHISEIDO, ELIXIRand MAQuillAGE,andthecontributionof BENEFIQUE,ofwhichanewskin-brighteningserumsold well.Salesofself-selectioncosmetics declinedyeaor nyeaar salesomf ajolriness, uchas AQUALABELw, eresluggishd, espitethestrong performanceof ANESSAS. hipmentsotfoiletriesfromwholesaler storetailersweredownfromayear agomainlyduetoinventoryadjustmentsindi stributionchannelsbeforetheinnovationof TSUBAKiIn March.

Inthemonthstocomew, eseekto achieveafurther xpansionoof v er-the-countesralesbymakingiat parot tfhecompanyculturec, ustomer-orientedI CHIGANmarketingI.nthe counsellingareat,henew ELIXIR Day Care Revolutionandmousse-type MAQuillAGE Powderly Foundationwilbl elaunchedin Februaryf,ollowedbythechangeof HAKUintoaproducltinethroughthe additionotfhreefunctional itemsinMarchI.ntheself-selectionandtoiletr iesareasw, ewilel nhanceour haircareproductsby completelyrevampingtheproductsp, ackagesa, ndcommunicationof TSUBAKbI asedontheconcept o"fcarefobr oththehaiar ndscalpi"nMarch.

Theyear-on-yeairncreaseo9f %insalestodomesti cosmetic sale subsidiari esmainlyreflectsthe contributionotfhe firsst hipmenot f Prioar ndthereactiontothespecial collectionomf arkeitnventory productswithcomparativelylowsale sw, hichweimplementedlasyt ear.

(Year-on-yeacr hangeinsalesfotrhe domesti cosmetic sale subsidiary)

NoteF: o"rDomesticsales"t,heyear-on-yeacr hangesinover-the-c ountesr ales(estimatesbyShiseidoa) swelal stheyear-on-y ear changesinsalesosf alessubsidiaryaredisclosedfromJune2 014a, ndthedescriptionotfhe"overviewcomment"ischangedto statementsabouot ver-the-countesr ales.

Overseas Sales

Updatedeveryquarter

(UpdatedJanuaryA, prilJ, ulyandOctober)

Updated

1/30/2015

OverviewotfheFourthquarte(rOctobetroDecembe2r 014)L: ocacl urrencybasis IntheWesterncosmeticsmarketsw, hiledemandint heAmericaswa solidwithamodesrtecoveryin personacl onsumptiono, veraldl emandinEuropeas awholedecreasedcomparedtoayeaar godue totheadverseconditionsinSouthernEuropeI.nt hecosmeticsmarketsinAsiag, rowthcontinuedin Chinaa, lbeiatast lowepr aceO. thepr a rtsoAf siaalsosawmoderategrowth. Shiseido'soversea salesinthefourthquarteor f FY2014wereloweor veraltlhantheleverleacheda yeaar gor,eflectinglowesr alesinAsia/Oceaniawh ilesalesremainedonpawr ithyear-agolevelsin theAmericasandEurope.

Trendsineachgeographicaal reawereasfollows:

A- mericas: Overalsl aleswereinlinewiththelevealye aar gom, ainlyreflectingafalilnsalesof

ZOTOSa, lthoughsalesof NARSandfragrancesremainedfirm.

E- urope: Overalsl aleswereonparwiththelevealyeaar gog, iventhesolidperformanceotfhe fragrancebusinessthaltaunchednewproducts a, swelal sadeclineinsalesotfhe CARITA and DECLÉORbrandsasaresulot f thesaleotfhebrands.

A- sia/Oceania: Althoughthetraverletaibl usinessremained strongw, eadjustedstoreinventories to anappropriateleveml ainlyinChinaA. saresul to, veralsl alesintheareadeclinedyeaor nyear.

*"OverseasSalesa" rerelatedtosalesonashippingbasis.

*Theaccountingperiodoof verseassubsid iariesotfheShiseidoGrouprunsfromJ anuarytoDecembeer achyearA. saresultt, he fourthquarteorFf Y2014hasalreadybeencompleted.

*** Figuresinthisdocumenst howingincreased/ ecreaseinsalesare basedonsimpleaggregationopf reliminaryfiguresA. ccordingl y, theymaydifferfromyear-on-yearchangesofactuasl ales ineachregioninlocacl urrencytermswhicharedisclosedinour consolidatedsettlemenotaf ccounts.