TOKYO — Coming off the back of posting a full-year net loss, Shiseido Co. Ltd. said it expects brighter times ahead in terms of profit and sales growth.
Japan’s largest cosmetics company said it expects net income for the 12 months ending March 31, 2014 to total 20 billion yen, or $201.32 million at current exchange. On Wednesday, Shiseido said that it would post its first net loss in eight years of 14.69 billion yen, or $177.87 million, for the fiscal year ending last month. An impairment loss of 28.6 billion yen, or $347.1 million, on the goodwill associated with Bare Escentuals pushed it into the red for the year.
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