April 17, 2014
Name of Company: Shiseido Company, Limited
Name of Representative: Shinzo Maeda
Chairman, Representative Director
(Code No. 4911; The First Section of the Tokyo Stock Exchange) Contact: Tetsuaki Shiraiwa
General Manager of Investor Relations
Department
(Tel: +81 3 3572 5111)
Notice of Revision of the Consolidated Financial Result Forecast for the Fiscal Year Ended March 31, 2014
In light of the recent trend in our business performance, Shiseido Company, Limited (the "Company") revises the consolidated financial result forecast for the year ended March 31, 2014, announced on January 31, 2014, as described below:
Description
1. Revision of consolidated financial forecast for the fiscal year ended March 31, 2014 (April 1, 2013 through
March 31, 2014):
(¥ million)
Net Sales
Operating
Income
Ordinary
Income
Net
Income
Net Income per Share (yen)
Previous forecast (A)
750,000
42,000
44,000
19,000
47.69
Revised forecast (B)
762,000
49,500
51,500
26,000
65.28
Amount of increase or decrease (B-A)
12,000
7,500
7,500
7,000
Rate of increase or decrease (%)
1.6
17.9
17.0
36.8
(Reference)
Business results for the previous year
(April 1, 2012 through March 31, 2013)
677,727
26,045
28,406
-14,685
-36.90
2. Reasons for the revision:
Net sales are expected to exceed the previous forecast due to the increase in the domestic sales driven by the surge in demand ahead of the consumption tax hike in April 2014 and larger purchase of retailers in response to the last-minute demand. The operating income, ordinary income, and net income are expected to exceed the previous forecasts due to the increase in gross profit as a result of sales increase as well as the acceleration of cost structure reforms and efficient management of expenses. Also, we recorded a gain on the
sales of underutilized real estate.
- 1 -
3. Forecast of dividends:
There is no change to the forecast of year-end dividends for the fiscal year ended March 31, 2014. The Company will pay 10 yen per share at the end of June, 2014 as initially planned, which will, together with the paid-off interim dividend of 10 yen, amount to 20 yen per share for the year.
Note: The forecasts stated in this announcement are based on information currently available to the Company.
Due to various factors, actual results may differ from the forecasts.
- End of News Release
Shiseido Company, Limited specializes in the design, manufacturing and marketing of cosmetics. The group offers beauty products (including makeup items, coloring, etc. ; Shiseido, Aupr's, DQ, Za, Revital Granas, B?n?fique, Maquillage and Elixir), skin care products (skin creams, bath and shower gels, shampoos, etc. ; Aqua Label, Integrate, Tsubaki and Uno), perfumes (Issey Miyake, narciso Rodriguez, Elis Saab and Azzedine Ala?a) as well as professional products (Joico, Decl?or and Carita).
Net sales are distributed geographically as follows: Japan (32.9%), China (25.6%), Asia and Oceania (6.4%), Europe/Middle East/Africa (10.3%), Americas (9.9%) and other (14.9%).
SHISEIDO COMPANY, LIMITED 
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