Shinee made their Korean comeback a year and six months after the release of Hello, with the announcement of their fourth mini album, entitled Sherlock. The digital version of the album, was released online through various online music sources, such as Korean music portals and iTunes, on March 19, 2012. The physical copies of the Sherlock album was released on March 21, 2012 in South Korea. On March 22, 2012 Shinee's music video for their title song "Sherlock" was released on SM Entertainment's YouTube channel.
On March 26, 2012, Shinee alongside their labelmates, became stockholders of SM Entertainment. They received 340 shares each (value of around $13,600 for each member).
The single "Sherlock" was released in Japan on May 16, 2012. They also started their first Japan nationwide concert tour titled "Shinee World 2012" on April 25, 2012. The tour took a total of 20 concerts in Fukuoka, Sapporo, Nagoya, Osaka, Kobe, Tokyo and Hiroshima. Their first ever Japanese arena tour set a record for the most people in attendance for a Korean act's first Japan tour with total of 200,000 people.
On May 20, 2012, Shinee participated in the SMTown Live World Tour III alongside their label-mates at Honda Center in Anaheim, California. SM Entertainment announced on June 14, 2012 that Shinee will hold their second solo concert, Shinee World II. The tour kicked off in Seoul on July 21 and 22 at Olympic Gymnastics Arena.
Shinee released an original Japanese single, "Dazzling Girl", on October 10. The single sold 97,111 in first week and was chosen to be the theme song for the Japan TV Series "Sukkiri", which airs on every week, for October. To promote their new single, Shinee held "Dazzling Girl Special Showcase" on November 1 to 13 at all Zepp Hall in Fukuoka, Osaka, Tokyo, Nagoya, and Sapporo.
On September 1, 2012 Shinee's official Japanese fanclub Shinee World J opened at 12:00JST. To commemorate the opening, Shinee held official fanclub events called "Shinee World J Fanclub Event 2012" on December 20, 2012 at Osaka-jō Hall and on December 24, 2012 at Makuhari Messe. On October 4, 2012 EMI announced Shinee's first social game called "SHINee My Love" released October 10. The game is handled by the social gaming network for Android & iOS, mobage.
Shinee released their first Japanese ballad single, 1000-nen, Zutto Soba ni Ite... as their sixth Japanese single and their live DVD for their Shinee World 2012 arena tour on December 12, 2012.
On November 19, 2012, along with actor Kim Soo-hyun, Shinee won the "Ministry of Culture Award" at South Korea's Ministry of Culture, Sports & Tourism and Korea Creative Content Agency's (KOCCA) annual award show, "Korean Popular Culture & Arts Award" at Seoul Olympic Hall.
On November 30, 2012 Shinee attended 2012 Mnet Asian Music Awards, which was held in Hong Kong, winning "Best Dance Performance - Male Group" for their latest Korean single, "Sherlock (Clue + Note)".
