By  on January 29, 2009

TOKYO — Shiseido and Kao have slashed their full-year net profit forecasts by 17 percent and 13 percent, respectively, warning that market conditions are deteriorating.

Shiseido’s net profit for the nine months ended Dec. 31 dropped 18.7 percent to 21.3 billion yen, or $207.3 million. Sales slid 3.4 percent to 518.5 billion yen, or $5.04 billion.

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