TOKYO — Shiseido revised upward its first-half earnings projection for the six months ended Sept. 30, due to lower-than-expected costs.
The firm said Wednesday it now expects to post first-half profits of 20 billion yen, or $186.7 million at average exchange, compared with an earlier estimate of 16 billion yen, or $150.9 million. Operating profits are now expected to come in at 33.5 billion yen, or $316 million, from an original estimate of 28 billion yen, or $264.2 million.
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Shiseido, which plans to release its first-half earnings Oct. 30, maintained its first-half revenue forecast of 360 billion yen, or $3.40 billion, adding it is expecting challenging global business conditions to continue for the remainder of the fiscal year.