TOKYO— Shiseido Co. Ltd.’s underperforming Bare Escentuals division will cause the Japanese beauty giant to post its first full-year loss in eight years but the American brand is still considered a key part of the group’s long-term growth strategy.
Shiseido warned Wednesday that it will post a net loss of 14.7 billion yen, or $177.87 million at average exchange, for the year ending March 31 as it books an impairment loss of 28.6 billion yen, or $347.1 million, on the goodwill associated with Bare Escentuals, a company known for its powdered mineral-based foundation. In January, when releasing its nine-month numbers, Shiseido said it expected full-year net income to fall 27.7 percent from a year ago to 10.5 billion yen, or $127.05 million.
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