核心部门调整、人事大变动，资生堂业绩下滑找“解药”

Core Insights - Shiseido will implement a significant organizational restructuring and executive changes starting January 1, 2026, in response to a loss of 33.35 billion yen in operating profit for the first three quarters and a goal to exceed a 10% core operating profit margin by 2030 [1][9]. Group 1: Organizational Changes - The restructuring will focus on three key areas: sustainability, art and creativity, and digitalization and IT, involving multiple core department reorganizations and changes in eight executive positions [2][6]. - A new "Sustainability Strategy Promotion Office" will be established under the existing "Business Innovation Department" to enhance sustainability capabilities, including a "Diversity, Equity, and Inclusion Group" [5]. - The "Art and Creativity Department" will be newly established to integrate creative functions, while the existing "Art and Heritage Department" will be dissolved and restructured into a "Corporate Value Creation Office" [5]. Group 2: Digitalization and IT Changes - The digital and IT transformation will involve a more complex restructuring aimed at improving resource utilization by integrating digital and IT departments [6]. - A new "Global Digital Business Division" will be created to consolidate various digital and IT functions, while the "Business Transformation Department" will be dissolved [6]. - The "Digital Transformation Office" will be renamed to "Global Digital Platform Department," focusing on enhancing digital application capabilities and consumer-related digital transformation [6]. Group 3: Financial Performance and Future Goals - For the first three quarters of 2025, Shiseido reported net sales of 693.82 billion yen, a 4% decline from 722.75 billion yen in the same period last year, with an operating profit loss of 33.35 billion yen compared to a profit of 2.18 billion yen in the previous year [11]. - The company has set a target to achieve a core operating profit margin of 7% by next year and aims for an annual compound sales growth rate exceeding 2%-5% above the market from 2025 to 2030 [8]. - The brand "Drunk Elephant," acquired in 2019, has been a significant drag on performance, with a 25% decline in net sales year-over-year in 2024 and a 65% drop in the first quarter of this year [12].