TOKYO—Shiseido reported net profits declined 38.2 percent to 29.05 billion yen, or $198.4 million, for the nine months ended Sept. 30. The drop was mainly as a result of impairment losses related to the transfer of the corporate’s personal care business, posted within the period under review, while the gains on the identical transfer were posted in the identical period a yr prior.
Operating profit at Japan’s largest cosmetics company ell by 62.7 percent to 35.66 billion yen.
Shiseido saw nine-month net sales grow 4.7 percent to 762.74 billion yen.
In 2021 Shiseido launched a latest strategy, under which it should implement global reforms with an emphasis on profitability and money flow by specializing in what it calls “skin beauty.” Recognizing that...
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