日妆四巨头上半年：海外市场难守，高端牌频出

Group 1 - The core viewpoint of the articles highlights the mixed performance of Japan's four major cosmetics companies—Shiseido, Kao, POLA, and Kose—in their financial results for the first half of 2025, with varying sales growth and profitability trends [2][3][4] - Kao and Kose reported sales growth, with Kao's sales increasing by 2.7% to 809 billion yen and Kose's sales rising by 0.9% to 160.5 billion yen, while Shiseido and POLA experienced sales declines of 7.6% and 0.7%, respectively [3][4] - Kose was noted as the only company among the four to see a decline in operating profit, which fell by 17.7% to 113 billion yen, while Kao, Shiseido, and POLA reported increases in operating profit [3][4] Group 2 - The domestic Japanese market has been a crucial pillar for the performance of these companies, with Kose's sales in Japan growing by 6% and Kao attributing its growth to competitive product launches [4][6] - In contrast, the overseas markets have shown weakness, with Kose's North American sales declining by 8.6% and sales in China dropping by 3.4% [4][5] - The nuclear wastewater incident has been identified as a significant factor affecting the international market presence of Japanese cosmetics brands, leading to consumer resistance and declining sales [5][6] Group 3 - To address the challenges in overseas markets, the companies are focusing on high-end strategies, with plans to enhance their global presence and product offerings [6][7] - Shiseido's sales in Japan account for about 30% of its total sales, while Kose and POLA have over 50% of their sales from the domestic market, indicating limited growth potential in Japan [6][7] - The high-end market has become increasingly competitive, with global brands emphasizing their premium attributes, necessitating Japanese brands to invest in research and development to remain relevant [8][9]