Shiseido swings to a nine-month profit as China and travel retail carry the group, while Japan sales slip
Shiseido's own Japan counters sold less over nine months even as group profit swung firmly positive — a split that shows who is paying for the recovery, and how much of the raised full-year guidance is simply a weaker yen.
Shiseido swung to a group operating profit of ¥63.5bn for the nine months to September, from a ¥33.4bn operating loss a year earlier, as net sales rose 6.8% to ¥741.1bn, the company said in results filed 10 November. Core operating profit — Shiseido's own preferred measure, which strips out restructuring costs and write-downs — more than doubled, up 124.3% to ¥67.5bn.