By  on July 29, 2011

TOKYO — Shiseido Co., Ltd. narrowed its losses in the firstquarter as it warned that its first-half net profit will come in lowerthan originally forecast due to tax expenses.

The Japanesebeauty company said Friday that net losses for the three months endedJune 30 came in at 277 million yen, or $3.4 million, compared to ayear-earlier loss of 666 million yen, or $7.2 million. All dollars areconverted from the yen at average exchange rates for the period to whichthey refer.

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