Q1 2021 Shiseido Co Ltd Earnings Call Transcript
I would now like to present to you the 2021 Q1 results and full year outlook. Please look at Page 3. I would like to go over the key points for the first quarter. There are 4 key messages I would like to convey the global business portfolio, one of Shiseido's strengths, contributed to offset the sales decline in Japan due to the state of emergency. Led by China, all other regions helped to offset, resulting in positive sales growth.
Now the company continues to focus investments on growth areas. Also, global transformation such as transfer and JV of the Personal Care business and partial termination of license with Dolce&Gabbana are proceeding as planned based on our midterm business strategy WIN 2023. In the full year outlook, we have included the impact from this global transformation but we maintain the same outlook for our existing businesses.
Next is Page 4, the Q1 P&L executive summary. Net sales was JPY 244 billion, an increase of 6% on FX-neutral basis. E-commerce continued high
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