By  on January 31, 2011

TOKYO — Shiseido Co. Ltd.’s nine-month net profit plunged 62 percent as the Japanese beauty company slashed its full-year forecasts and warned of difficult market conditions in its home country.

Shiseido said Monday its net profit for the nine months ended Dec. 31 fell 62 percent to 9.01 billion yen, or $103.98 million at average exchange rates for the period. The company attributed the drop to costs related to the acquisition of Bare Escentuals and other extraordinary items linked to accounting procedure and tax payments.

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