Recently, Ryohin Keikaku, the operator of Muji, announced that its Health & Beauty division — covering skincare, makeup, hygiene products, and fragrances — surpassed ¥100 billion (about $650 million) in domestic sales for the fiscal year ending August 2025. The milestone was driven by hit items such as the brand’s Fermented Booster Essence, as Muji’s cosmetics business has nearly doubled over the past three years, marking a remarkable post-pandemic expansion.
According to recent rankings of Japan’s cosmetics companies by domestic sales, Muji has now climbed to 7th place, breaking into the top tier dominated by specialized beauty manufacturers. The list is led by Shiseido (¥990.5 billion), Kao (¥668.1 billion), KOSÉ (¥322.7 billion), Rohto Pharmaceutical (¥190.4 billion), POLA Orbis Holdings (¥170.3 billion), and Fine Today Holdings (¥107.3 billion), followed by Muji’s Health & Beauty business.
For the fiscal year ending August 2025, Ryohin Keikaku’s domestic revenue rose 20.9% year-on-year to ¥470.1 billion, with the Health & Beauty division now accounting for 22% of total sales, up five points from two years ago. Strong performance came from products such as the Sensitive Skin series and Aging Care line, which have earned consumer trust for their natural ingredients and affordable pricing, appealing to a wide demographic.
As of the end of August, Muji operated 683 stores in Japan and 729 overseas. Japanese-developed skincare products began rolling out internationally this year, now available in nine markets, including China, South Korea, Vietnam, and Malaysia. If the products gain traction abroad, analysts expect accelerated growth in global beauty sales.
Looking ahead, Ryohin Keikaku aims to achieve ¥1 trillion in total revenue by FY2028 (up from ¥784.6 billion in FY2025), supported by an aggressive expansion plan adding 45 new stores in Japan and 70 overseas each year. The company views cosmetics as a strategic growth pillar, not only for their profitability but also for their ability to draw customers back regularly to Muji stores — boosting cross-category purchases in apparel, household goods, and food.
