Shiseido Suffers 1st Net Loss in 4 Years
Tokyo, Feb. 10 (Jiji Press)--Japanese cosmetics maker Shiseido Co. said Monday that it incurred a group net loss of 10.8 billion yen in the year that ended in December, plunging into the red for the first time in four years.
The loss, which followed the previous year's net profit of 21.7 billion yen, was caused by sluggish sales in China amid a prolonged economic slump there as well as costs associated with job cuts and closures of unprofitable stores in Japan.
(2025/02/10-21:57)
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