By  on July 31, 2014

TOKYO — Shiseido Co. Ltd. said Thursday that it posted a first-quarter loss of 1.78 billion yen, or $17.43 million at average exchange rates, on increased tax and personnel expenses.

The company’s operating profit plummeted 80.2 percent to 1.36 billion yen, or $13.33 million for the three months ended June 30. Shiseido said higher personnel expenses stemming from bonus payments bit into its profitability.

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