PARIS — Shiseido stock closed down at a 16-year low in Tokyo on Monday after the corporate reduced its profit guidance for 2023 on the back of a weakness in China and travel retail within the third quarter.
The Japanese beauty giant’s stock ended the day Monday at minus 14.3 percent, at 4,185 yen, or $27.57.
The corporate on Friday released third-quarter results, citing negative growth within the three months to Sept. 30. That was especially as a consequence of consumer pullback on Japanese products in China and travel retail due to Japan’s release of treated water into the Pacific Ocean.
This summer, Japan began a controversial discharge of treated waste water from the disabled Fukushima Daiichi Nuclear Power Station. Japan has maintained...
Continue reading
0 Comments
