The Japanese cosmetics group Shiseido announced Thursday, October 29 a fall in sales and profits in the first half of 2009-2010, the reluctance of Japanese and Western consumers because of economic crisis continuing to affect his performance.
From April to September, net income of Shiseido fell 11.4% year on year to 17.8 billion yen (131 million euros), its turnover by 11.7% to 317.3 billion (2.33 billion euros) and operating income by 32.9% to 22.7 billion (167 million euros), according to a statement.
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“The reluctance of consumers has had adverse effects on the Japanese cosmetics market, which has caused difficulties for our company also subjected to increased competition and inventory adjustments in the distribution sector,” said Shiseido . Sales of cosmetics in Japan decreased by 6.7% over one year.
Overseas, sales of cosmetics fell by 17.5%, good business results in China and other Asian countries are not sufficient to offset the mediocrity of those in Europe and North America.
Shiseido has maintained its forecast for annual net profit to 31 billion yen, up 60% yoy, due to exceptional items.
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Tags: cosmetics in Japan, Japanese cosmetics, mediocrity, nippons leaded, Shiseido