Shiseido Group reported Q3 2025 net sales declining 4% to 693.8 billion Japanese yen ($4.6 billion) with operating losses widening to 33.4 billion yen ($221 million). Weakness in the Americas and sluggish China/travel retail demand drove declines. Core operating profit grew 9.7% to 30.1 billion yen ($199 million). Drunk Elephant’s sales fell 19% in Q3 while Elixir grew 17%. The Americas declined 10.3% and China/travel retail fell 7.6% overall, though China showed recovery with 8.1% Q3 growth. Shiseido announced its 2030 strategy targeting 7% core operating margin by 2026.