Our Mission, Values and Way ···································· Shiseido s Value Portfolio ··········································· Message from the President & CEO ························· Shiseido Snapshot Business Overview ············································· Overview of Results ············································ Major Events of the Year Ended March 2012 ··· An Interview with the President & CEO ··················· Shiseido s Next Era Has Begun ································· Review of Operations ·················································· Domestic Cosmetics Business ··························· Insight
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Shiseido s Management Structure ···························· Board of Directors, Corporate Auditors and Corporate Officers ···································· Corporate Governance ······································· Risk Management (CSR Management and Business Continuity Plan) ·· Main Subsidiaries and Affiliates ······················· Management s Discussion and Analysis ···················
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11-Year Summary of Selected Financial Data ···· Operating Results and Financial Condition ····· Financial Section ························································· Consolidated Financial Statements ···················
Taking on Challenges: A New Business Model ···································
Notes to the Consolidated Financial Statements ······································· 102 Independent Auditor s Report ··························· 124 Milestones ···································································· 125 Investor Information ··················································· 126 Corporate Information ················································ 127
Global Business ··················································· Insight
Shiseido s Business in China: An Engine of Growth ······································
Initiatives Based on Our Way ······································ Corporate Social Responsibility at Shiseido ···· Toward Consumers ············································· Toward Business Partners ································· Toward Employees ·············································· Toward Society and the Earth ··························· Environmental Data ············································ Social Data ····························································
Shiseido celebrates 140 years in business in 2012.
On the Cover: Tough and here for the long term, with plent y of p otential to grow in the future. All the charm of a thriving 140year old tree. Proud past, bright future. Shiseido keeps on keeping on.
In this annual report, statements other than historical facts are forward-looking statements that reflect the Company’s plans and expectations. These forward-looking statements involve risks, uncertainties and other factors that may cause actual results and achievements to differ from those anticipated in these statements.
Our Mission, Values and Way
SHISEIDO ANNUAL REPOR T 2012
Shiseido’s Value Portfolio
Shiseido commenced operations as Japan’s first Western-style pharmacy in Tokyo’s Ginza district 140 years ago in 1872, a time when Chinese herbal remedies were the mainstream in Japan. The name Shiseido derives from a Chinese expression meaning “praise the virtues of the great Earth, which nurtures new life and brings forth new values.” In line with this expression, Shiseido remains committed to its founding spirit of ser ving customers and contributing to the world through beauty by bringing together all things on Earth to create new value through Our Mission, which is Shiseido’s raison d’être. Shiseido has a 140-year history of innovation in its various activities to help people live beautifully. The value portfolio we have built up in creating...
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