• Shiseido average debt/equity ratio for 2023 was 0.35, a 23.91% decline from 2022.
• Shiseido average debt/equity ratio for 2022 was 0.46, a 11.54% decline from 2021.
• Shiseido average debt/equity ratio for 2021 was 0.52, a 62.5% decline from 2020.

Debt/equity ratio can be defined as a measure of a company's financial leverage calculated by dividing its long-term debt by stockholders' equity.