Business Report - Shiseido group website

Shiseido Eco Policy
In order to protect the earth environment in all of its business activities,
Shiseido will
1. consider the environment and use natural resources and energy with great care;
2. promote the development and application of new technologies that do not place
a burden on the environment;
3. aim to raise the level of employee awareness toward environmental protection;
4. endeavor to work closely with local communities and society.
Amounts in this business report have been rounded down to the nearest million
JPY, thousand USD, thousand EURO, thousand RMB, and thousand TWD. In the notation
of 1,000 shares, shares of less than one unit have been omitted.
[Translation: AGM 2012]
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