MADRID, 13 Nov. (EUROPA PRESS) –
The shares of the Japanese cosmetics firm Shiseido have concluded the session with a fall of more than 14%, the largest in 16 years, after the company lowered its forecasts last week due to the impact on its results of the slowdown in China and the consumer punishment of Japanese products after the discharge of contaminated water from the Fukushima nuclear power plant.
Specifically, Shiseido shares closed the session on the Tokyo Stock Exchange with a drop of 14.32%, after last Friday the company reported that its attributable net profit fell 29.4% in the first nine months of its fiscal year, up to 20,517 million yen (126.9 million euros), while sales decreased by 5.3%, to 722,417 million yen (4,469 million euros).
In addition, the company announced for the year as a whole that it expects to achieve consolidated revenues of 980,000 million yen (6,062 million euros), below the trillion yen (6,186 million yen) previously projected, while the net profit attributed It will be 18 billion yen (111.3 million euros), 10 billion yen (61.9 million euros) less.
In this sense, Shiseido indicated that the worse performance of comparable sales for the year as a whole mainly reflects the weakness in the retail travel business and the China business, which continue to be affected by retailers’ inventory adjustments.
“This was compounded by weakening sentiment toward China’s economy, as well as consumers’ withdrawal from purchases of Japanese products following the discharge of treated water in Japan,” the company noted.
