Price hikes for new and existing products alike

Research evidence excerpt

Price hikes for new and existing products alike

Global Markets Research

9 July 2026Lion

4912.T 4912 JP / EQUITY: JAPAN TOILETRIES & COSMETICS

RatingPrice hikes for new and existing products alike Neutral

Target price JPY 1,780Quick Note

Closing price

8 July 2026 JPY 1,742.0Autumn 2026 new product briefing

Lion held a briefing to discuss its new products for autumn 2026 on 9 July. We think it (Note: Quick Note reports are not a

provided evidence of the company's ongoing efforts to increase product value-added vehicle for changes to ratings, target

through creating distinctive value on the Japanese market and thereby raising average prices, or earnings forecasts)

prices. On a personal level, this author thought that many of the products on show had

improvements in packaging design, including in terms of containers and visibility of key

features. That said, three of the five focus products were in fabric care and living care.

Sales in both these categories have often fallen short of guidance in previous years, and Research Analysts

we will be keeping a close eye on sales.

Japan toiletries & cosmetics

Product prices: New products on show had high prices across the board, and there were Yuji Ohana - NSC

also many revamped products at significantly higher prices than their previous versions. yuji.ohana@nomura.com

The company is launching a new Dent Health toothpaste at an estimated selling price of +81-3-6703-1143

¥1,500. It is also launching a new fabric softener in the premium space occupied by rivals

at a price some two-and-a-half times higher than regular products, and it is also assuming

a roughly 30% rise in prices for low-priced eye drops. The company is also planning to

hike prices for existing products, with increases of 4–25% for mainstay brands from 1

October.