Shiseido up 24% in China but overall sales still down

Published: 1-Aug-2008

Leading Japanese cosmetics group Shiseido has seen net sales dip by 5.4% to ¥164.1bn in the first quarter of 2008-09 (April-June 2008). Operating earnings were down 21.2% year-on-year to ¥12.2bn with net profits of ¥10.3bn. The net profits figure is said by the company to be based on new accounting rules for quarterly results intended to reflect fiscal expenses more clearly. Shiseido has said that the Japanese market had been more sluggish than anticipated with sales down 9% compared with a slight upturn of 2% abroad with growth of 24% in China.


Leading Japanese cosmetics group Shiseido has seen net sales dip by 5.4% to ¥164.1bn in the first quarter of 2008-09 (April-June 2008). Operating earnings were down 21.2% year-on-year to ¥12.2bn with net profits of ¥10.3bn. The net profits figure is said by the company to be based on new accounting rules for quarterly results intended to reflect fiscal expenses more clearly. Shiseido has said that the Japanese market had been more sluggish than anticipated with sales down 9% compared with a slight upturn of 2% abroad with growth of 24% in China.

Consumer sentiment in Japan cooled as commodity prices went up in the wake of higher raw materials costs. Abroad, Shiseido said there were concerns about the US economic slowdown but overall conditions were solid and reflected continued rapid growth of the cosmetics market in China as well as expansion in the emerging markets.

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