TOKYO — Shiseido raised its full-year operating profit and sales forecasts as it cited a “moderate recovery” in economic sentiment but cut its net profit estimate on inventory costs.
The cosmetics giant said it now expects its operating profit for the year ending March 31 to grow 53.6 percent to 40 billion yen, or $406.97 million. That’s up from a previous forecast of 49.7 percent growth. Similarly, it upgraded its sales estimate, predicting that sales will grow 9.2 percent to 740 billion yen, or $7.53 billion. Previously it was expecting 7.3 percent growth. Broken down geographically, Shiseido is forecasting that full-year domestic sales will fall 1.7 percent to 367 billion yen, or $3.71 billion. It is predicting that overseas sales, however, will grow by 22.5 percent to 373 billion yen, or $3.77 billion. If the company achieves this, it will be the first time that its international sales have exceeded those in its home market of Japan.
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