Transferring Coverage of Japanese Beauty Companies Shiseido and Kosé; Moats Downgraded to None
We transfer coverage of Shiseido and Kosé, Japan's two largest beauty companies, whose portfolios span premium skincare and color cosmetics.
Shiseido Co Ltd 4911
Bulls Say, Bears Say
Bulls
Shiseido is well poised to reap the benefits of the global premiumization trend and consumers’ shift in spending to skincare, given its competitive edges in skincare innovations and a renewed strategy of customer-centric product launches.
Bears
Slowing global growth and rising inflation will weigh on consumer sentiment, disrupting the premiumization trend and depressing spending on beauty products.
Trading Information
- Previous Close Price
- ¥3,679.00
- Day Range
- ¥3,573.00–3,700.00
- 52-Week Range
- ¥2,135.00–3,821.00
- Bid/Ask
- ¥3,591.00 / ¥3,617.00
- Shares Outstanding
- 399.62M
- Market Cap
- ¥1.44T
- Volume/Avg
- 3M / 3M
Key Statistics
- Price/Earnings (Normalized)
- 36.68
- Price/Sales
- 1.44
- Dividend Yield (Trailing)
- 1.39%
- Dividend Yield (Forward)
- 1.67%
- Dividend Payment Schedule
- Mar, Sep
- Total Yield
- 1.39%
Company Profile
Founded in 1872 and headquartered in Tokyo, Shiseido is one of Japan’s leading premium beauty companies, with a portfolio of 31 brands spanning skincare, color cosmetics, and fragrance categories. As of the end of 2025, it is the third-largest company in the premium skincare category, behind L'Oréal and Estée Lauder, and sixth-largest in the color cosmetics category. Its key brands, Shiseido, Clé de Peau Beauté, Nars, Elixir, Anessa, Drunk Elephant, Narciso Rodriguez, and Issey Miyake, accounted for 79% of Shiseido’s first-half 2026 revenue. Shiseido operates across 120 countries and regions, with Japan accounting for 29% of first-half 2026 sales, China and Travel Retail 38%, Asia-Pacific 7%, the Americas 11%, and EMEA 13%.
- Sector
- Consumer Defensive
- Industry
- Household & Personal Products
- Stock Style Box
- Mid Core
- Total Number of Employees
- 31,995
- Website
- https://corp.shiseido.com
Competitors
Valuation
|
Metric
|
4911
|
OR
|
4922
|
|---|---|---|---|
Price/Earnings (Normalized) | 36.68 | 34.52 | 35.88 |
Price/Book Value | 2.26 | 6.77 | 1.16 |
Price/Sales | 1.44 | 5.07 | 0.99 |
Price/Cash Flow | 12.09 | 26.29 | 12.49 |
Price/Earnings
4911
OR
4922
Financial Strength
|
Metric
|
4911
|
OR
|
4922
|
|---|---|---|---|
Quick Ratio | 0.82 | 0.58 | 2.12 |
Current Ratio | 1.38 | 0.97 | 3.50 |
Interest Coverage | −0.79 | 19.89 | 434.88 |
Quick Ratio
4911
OR
4922
Profitability
|
Metric
|
4911
|
OR
|
4922
|
|---|---|---|---|
Return on Assets (Normalized) | 1.57% | 11.46% | 5.40% |
Return on Equity (Normalized) | 3.25% | 20.96% | 7.44% |
Return on Invested Capital (Normalized) | 1.85% | 15.09% | 6.41% |
Return on Assets
4911
OR
4922
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United States