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Shiseido rejigs top management roles

Japanese cosmetics giant Shiseido Co announced on November 10 a new management structure, effective January 23.

Shiseido said it has promoted Kentaro Fujiwara, a senior executive officer in charge of its Chinese business, to company president, in addition to assuming the role of chief operating officer. The company’s current president Masahiko Uotani will become chairman, while continuing to serve as CEO, the company said.

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Joining Shiseido in 1991, Fujiwara has a wealth of experience in the company’s international business, working in Germany and France and serving as president of the company’s South Korean unit, before joining the China region as CEO in 2018. He assumed the senior executive officer role in 2020.

In China, he was responsible for some 10,000 employees and is recognised for boosting the company’s performance through introducing new sales strategies such as online counselling and live e-commerce.

“I have little experience in the Japanese operations, but I want to identify its challenges from the perspective of the overseas business and put it on a growth track,” Fujiwara said at a press conference.

Uotani, who also attended the press conference, said he expects Fujiwara to help unify Shiseido’s employees at home and abroad.

In the first nine months of its calendar year, Shiseido generated a net profit of JPY 29 billion (USD 205.6 million), down 38.2 percent year-on-year. Sales fell by some 10 percent in Japan and China in the first nine months of 2022 but increased elsewhere in Asia-Pacific.

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Shiseido said it is maintaining its 2022 forecast, which it had drastically lowered this summer, due to the difficulties linked to the pandemic in its two main markets, Japan and China.

Shiseido still expects annual sales of JPY 1,070 billion, an increase of 5.9 percent compared to 2021.