Shiseido profits for its latest nine months more than doubled over the same period last year.
‘New income’ leaped 135 per cent to a record ￥37.2 billion (US$345.8 million) for the nine months to September 30. The cosmetics company attributes this to several factors including an increase in operating income, the sale of intellectual property rights associated with the Jean Paul Gaultier brand, and gain from the sale of its Kamakura factory site.
Shiseido’s operating income increased 17.1 per cent year on year to ￥38.7 billion. As well as “substantial” grown in its home market, it also had higher sales in China and in travel retail.
However, sales fell in the Americas, Asia-Pacific, Europe, the Middle East and Africa.
The company still expects its full-year net profits to grow by 1.8 per cent to Y30 billion with a significant year-on-year decrease in operating income in the fourth quarter.