Cautionary Statement With Respect to Forward-Looking Statements In these documents, statements other than historical facts are forward-looking statements that reflect our plans and expectations. These forward-looking statements involve risks, uncertainties and other factors that may cause our actual results and achievements to differ from those anticipated in these statements. 1. THE SHISEIDO WAY 2. Management's Message 3. Cosmetics 4. Toiletries and Other Businesses 5. Shiseido Group Brand Portfolio 6. Research and Development 7. Together with Society 8. Financial Section • Six-Year Summary • Management's Discussion and Analysis • Consolidated Financial Statements • Notes to the Consolidated Financial Satements • Report of Independent Accountants 9. Global Network 10. Corporate Information

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