Shiseido Group has announced the merger of its China and travel retail businesses as part of efforts to better navigate a volatile market environment and enhance consumer-centric value creation. The move is a key step in the company’s ongoing transformation strategy, “Action Plan 2025–2026,” which focuses on three main goals: strengthening brand foundations, rebuilding profitability, and improving operational management. In a statement, Shiseido said the new structure aims to unify its approach to Chinese consumers, accelerate business synergies, and improve cost efficiency.