Kose's Financial Performance-Sales Growth and Structural Reforms

Sales in the beauty division increased by 12.3% to 64.719 billion yen (approximately RMB 3.059 billion), with operating profit surging by 137.3% to 6.98 billion yen (approximately RMB 330 million).

The Asia market (excluding Japan) was the only market where Kose saw a decline in 2024, with sales reaching 40.6 billion yen (approximately RMB 1.918 billion), down by 23% year-on-year, with declines in all four quarters.

Kose's sales in Mainland China and travel retail saw a significant drop. Excluding travel retail, sales in the Chinese market fell by 33.4%. Online sales in China declined, while offline performance was below market levels. 

The financial report noted that Kose undertook extensive structural reforms in the Greater China region in 2024, including reorganizing stores and personnel and dealing with excess inventory. These structural reforms led to a loss of 4.4 billion yen.