TOKYO — Shiseido has raised its full-year profit and sales forecasts, citing lower tax expenses, enhanced cost efficiency and greater-than-expected progress in implementing cost structure reforms.
The Japanese beauty giant recently shifted its fiscal year-end from Mar. 31 to Dec. 31. The company will be reporting numbers for the nine months ended Dec. 31 on Feb. 9, a transitional period.
Shiseido said Friday it now expects net income for the nine months to reach 23 billion yen, or $188.6 million. This is up 76.9 percent from a previous forecast of 13 billion yen, or $106.6 million, but still falls short of the results achieved in the same period a year earlier.
Japan’s largest cosmetics manufacturer now expects operating profit to total 37.5 billion yen, or $307.5 million, up 25 percent from a previous forecast of 30 billion yen, or $246 million.
The company is predicting net sales of 763 billion yen, or $6.26 billion. This is an increase of 0.4 percent over its previous sales guidance of 760 billion yen, or $6.23 billion.