Shiseido's retirement plan draws 257 takers, 30% past the 200 target

What happened

Why it happened

• The exit was more attractive than the stay: 257 against a target of 200 — oversubscription meant the buyout terms or the outlook pushed more people out than management planned for.
• Two markets fading at once: inbound consumption in Japan cooled and the US market declined, and the Americas business needed an impairment — the restructuring was already late.
• A ¥52B loss year to fund it: the ¥3B retirement bill landed in the same year as the group's huge final loss, paying people to leave while earnings collapsed.

Aftermath

Shiseido announced on 10 November 2025 it would recruit about 200 voluntary retirees under the "Next Career Support Plan", open to parent and some domestic subsidiary employees meeting age and service conditions. On 6 January 2026 it reported 257 applications, about 30 per cent more than expected, with retirement on 31 March 2026. Special additional payments and related costs of about ¥3 billion were booked in the fourth quarter of fiscal 2025. The programme came as sales slowed on cooling inbound consumption and a declining US market, with an expected ¥52 billion final loss for fiscal 2025.