The 1st Quarter
企画書テンプレート
Business Results
KIKAKUSHO
2021/00/00
Briefing(Fiscal Year Ending March 31, 2025)
April 1,2024-June 30,2024

Mandom Corporation(Securities code:4917)
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Contents

1. Consolidated Business Results of FYE 2025/MAR
2. Consolidated Net Sales
3. Consolidated Operating Income
4. Consolidated Ordinary Income・Net Income※Change in Method for Calculating Segment Income (Loss)
Effective from the first quarter of the current fiscal year, in line with the revision of performance indicators, we havechanged its method of calculating internal profits in the distributor segment, which were previously allocated to thecustomer segment, to remain in the distributor segment instead of being allocated to the customer segment, in order tomore appropriately evaluate the performance of each segment. The segment information for the first quarter of theprevious fiscal year is presented based on the calculation method after the change.

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11. Consolidated Business Results of FYE 2025/MAR
million Yen
2024/MAR2025/MARBalanceYr/YrNet Sales

18,455

19,265809+4.4%

Operating Income

1,033696-336-32.5%

5.6%

3.6%

1,230

1,016-214-17.4%Net Income Attributable to Owners of Parent

911666-244-26.8%Net Sales

19,265 million yen+4.4%

Operating Income

696 million yen

Operating Income Margin
Ordinary Income(Growth rate excluding exchange rate effects+1.7%,
Exchange rate effects +497 million yen)
While sales in Indonesia declined sharply, and Others fell below
the previous year's level, double-digit growth in Japan (+11.6%)
more than made up for the decline in Other’s sales.

-32.5%

Profit decreased significantly due to lower sales in Indonesia,
although profit increased in Japan, income declined sharply
by more than 30%.
* Growth rate excluding exchange rate effects

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2.

Consolidated Net Sales

2-1. Consolidated Net Sales by Quarter
Million yenvs LY

19,265+4.4％
18,67718,455

18,56017,53917,11917,274

16,602
16,05014,932

14,761

14,37913,2881Q

2Q
FYE 2022/MARFYE 2023/MAR

3Q
FYE 2024/MAR

4Q
FYE 2025/MAR

Recovery from COVID-19 and strong sales of Japanese summer season products led to thehighest sales in the past four years in both the same period and quarterly performancecomparisons.
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2.

Consolidated Net Sales

2-2. Net Sales by segment
million yen
2024/MARNet Sales

2025/MARBalance

Yr/Yr

Yr/Yr
Prior period rate
conversion

Composition
Ratio

18,455

19,265

+809

+4.4%

+1.7%

Japan

9,719

10,845+1,126+11.6%+11.6%

56.3%

Indonesia

3,270

2,742-527-16.1%-22.3%

14.2%

Others

5,465

5,676

+210

+3.8%

-1.6%

29.5%

2-3. Net change in net sales by segment
million yen+11.6%＋2024/MARNet Sales
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Japan-22.3%-1.6%

Indonesia

OthersExchangerate effects

2025/MARNet Sales42.

Consolidated Net Sales

2-4. Net Sales trends by segmentvs LY

million yen
10,845
8,680

9,408

+11.6％FYE 2022/MARFYE 2023/MAR

FYE 2024/MAR

FYE 2025/MAR

9,719

vs LY

+3.8％
vs LY

5,465

-16.1％
2,550

Japan

•

3,012

3,270

3,148

2,742

Indonesia

3,629

OthersJapan

Indonesia

Others+11.6％-16.1％＋3.8％

Sales increased by strong
sales of summer season
products, supported by theweather, in addition to theexpansion of items andstrengthening of initiatives.

mandom corp. All rights reserved. CONFIDENTIAL•

Sales declined significantly
due to a large drop in
reaction to the increase in
shipments in the previous
4Q due to the impact of
new products anddistribution promotions.

5,676

•

Net Sales in local currency
terms fell below theprevious year's level.

•Sales increased comparedto the immediately
preceding 4Q and grewsteadily.

52.

Consolidated Net Sales

Supplemental data） Overview by Segment

Japan●Strengthening in-store merchandising of summer season products
Net Sales ＋33.1％▷Launch of collaborative products and limited edition products for both men and women. Also,
strengthened relationships with retailers through exclusive products. This led successful of early
introduction and in-store promotions. Weather conditions were also favorable, with fewer rainydays and warmer temperatures.

●Price increase of 3-20% effective for 159 SKUs
▷As per the news release disclosed on Aug. 1, we raised the prices of its products, including
major items from September 2.

(https://www.mandom.co.jp/release/2024080102.html)●Strengthen lineup for mass market▷Late August : Renewal of the women's skincare brand "Bifesta" brandLaunched a new men's skincare brandmandom corp. All rights reserved. CONFIDENTIAL

62.

Consolidated Net Sales

Supplemental data） Overview by Segment

Indonesia●Optimization of distribution inventory▷The promotion conducted in the 4Q of the previous fiscal year, mainly for PIXY, had resulted inexcessive distribution inventories. Therefore, we adjusted the sales this quarter in light of theinventory situation.
▷Process returns of retailer/distributor inventory of products that have reached their expiration
date since COVID-19 disaster.

●Review of new product launching schedule▷The sales schedule for new products was revised to ensure a more effective product launch inlight of market trends and other factors, resulting in a variance from the original sales plan.

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2.

Consolidated Net Sales

Supplemental data） Overview by Segment

Others●Quarterly growth rate (local currency basis)▷In the previous year, Net sales expanded in Southeast Asia, driven by reopening from COVID-19.
Although, Net sales were lower than in the previous year, they were mostly steady compared to theimmediately preceding 4Q.
▷In East Asia, China remains in a difficult situation, but the other countries are on a recovery track.
East Asia

Southern east Asia

+60.0%+40.0%+20.0%+0.0%-20.0%-40.0%

Thailandタイ

Philippines
フィリピン

Malaysia
マレーシア

Singapore
シンガポール

Vietnam
ベトナム

ACGI
ACGI

China
中国

Taiwan
台湾

Korea
韓国

対前期4Q
■vs対前期1Q
last 1Q ■vslast 4Q
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82.

Consolidated Net Sales

2-5. Net Sales by Brands
million yen+14.5%
+7.3%

+6.5%
+9.7%

+3.1%
-27.4%+5.3%-11.3%

2-6. Net Sales by segment brand change Ratio
JapanTotalIndonesia

GATSBY
Othersmandom corp. All rights reserved. CONFIDENTIAL-16.1%+11.6%+12.3%+10.8%

Others+3.8%-18.1%+8.6%-15.1%

+1.2%

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2.

Consolidated Net Sales

Supplemental data) Initiatives by Major Brands●Strengthening of summer season products● Strengthen of promotion in each country▷In Japan, limited-edition products andstore-exclusive products were launched for earlystorefront launch and expansion of development.

▷Actively developing online and offline
communication centered on cleansing sheets andcleansing lotions in each country.

Collaboration withpopular anime

Exclusive products
for major retailers▷In overseas country, we actively conductpromotions in collaboration with companies anddisseminate information through SNS etc.

Promotion through business-tobusiness collaboration (Taiwan)
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Promotional events in Thailand● Brand renewal in August▷Renewal from face wash and cleansing brandto skincare brand.

Strengthen through SNS
in each country

102.

Consolidated Net Sales

Supplemental data) Initiatives by Major Brands● Strengthen of Odor Care Series● Strengthening of Acid Heat Care Series▷ Increased results by strengthened
development of odor care series,
including new commercial TV spots,in line with lineup expansion.

▷Strengthen measures to attract
new users and expand
awareness by launching
limited-edition fragrances andexpanding in-store promotions.

Herbal citrus scent added toLUCIDO Odor Care Series● Strengthening of base makeup category▷Expanded product lineup by launching newproducts in the mainstay base makeup category.
Strengthened sales through SNSand other communication ande-commerce channels.

LUCIDO-L Acid Heat Care Series
with Limited Release
Fruity Cocktail fragrance● Revitalization through aggressive new items▷ Expand the category and revitalize the brand byproposing products that match trends, such as
launching limited-edition products as well as
expanding the product lineup.

PIXY Perfect Fit Liquid Foundation
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113.

Consolidated Operating Income

3-1. Consolidated Operating Income

million yen
2024/MAR2025/MARBalanceYr/Yr

Gross profit

8,110

8,239+128+1.6%

Selling and administrative expenses

7,077

7,542+464+6.6%

Selling expenses

2,569

2,689+120+4.7%

Administrative expenses

4,507

4,852+344+7.6%

Operating Income

1,033696-336-32.5%

3-2. Consolidated Operating Expenses Variance Analysis
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123.

Consolidated Operating Income

3-3. Operating Income by Segment

million yen
2024/MAR*Operating Income

2025/MARBalanceYr/Yr

1,033

696-336-32.5%

Japan

169

321

+152+90.2%

Indonesia

38-319-358-Others

885749-136-15.4%

Adjustment-60-54+5-*Converted to new consolidation standards

•••

Japan

Indonesia

Others+90.2％

Operating loss

-15.4％

Increase in gross profit byhigher sales.
A&P expenses decreased dueto the gap between TV
commercials and otheradvertising expenses spent in
the previous fiscal year.
Increase in logistics costs dueto the 2024 problem.

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Increase in cost of sales ratio
and decrease in gross profit
due to significant decrease insales.
Implementation of returnprocessing for distribution
inventory.

••

Increase in various expenses
such as selling expenses andpersonnel expenses etc.
Although earnings declined
compared to the strong
performance of the previous
fiscal year, quarterly earnings
remained steady.

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3.

Consolidated Operating Income

3-4. Operating Expenses by Segment Breakdown of Increase/Decrease
million yen

Consolidated+359

Japan

Indonesia

OthersAdjustment+125+1,145+1,065+778+681
-264
-15

Total expensesCost+132+120+10-22-207-15+102+276-34+344

Sales expenses

Administrative expenses

3-5. Operating Expenses and Operating Income by Segment % of Net Sales
Operating income

Consolidated

56.1%

57.2%

Japan*

56.3%

Indonesia*

57.1%
78.8%

13.9%

14.0%

16.9%

15.3%

24.4%

25.2%

25.3%

25.0%

5.6%

3.6%
2024/MAR 2025/MAR

Administrative expenses

2.6%
1.5%
2024/MAR 2025/MAR

Sales expense

Cost

Others*

56.6%

56.5%

11.1%

13.0%

16.3%

17.4%

16.0%

13.0%

86.2%

2.1%
1.8%
18.3%
20.3%
0.9%
-8.3%
2024/MAR 2025/MAR

2024/MAR 2025/MAR*Based on figures before consolidation adjustments

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144.

Consolidated Ordinary Income・Net Income

4-1. Ordinary Income・Net Income
million Yen
2024/MAR2025/MARBalance

Yr/Yr

Non-operating Income

277

34466

+24.0%

Non-operating Expense

80

25-54-68.6%

1,230

1,016-214-17.4%

Extraordinary Income

32-0-11.7%

Extraordinary Loss00-0-65.0%

Income before Income Taxes and Minority Interests

1,233

1,018-214-17.4%

Income Taxes and Minority Interests340408+68+20.2%

Net Income

893609-283-31.7%Net Income Attributable to Non-controlling Interests-18-57-39

911666-244

Ordinary Income

Net Income Attributable to Owners of Parent•-26.8%

No special note.

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