The shares dipped despite core operating profit of ¥13 billion, which beat the ¥10.4 billion consensus estimate, helped by structural reforms and cost controls. Shiseido also reaffirmed its full-year core operating profit guidance.
(May 13): Shiseido Co shares fell the most in nearly six months after the Japanese cosmetics company reported first-quarter net sales that just missed analyst estimates.
The stock was down as much as 6.7% in Tokyo on Wednesday, its biggest intraday decline since Nov 17. Net sales declined to ¥232 billion, just below analysts’ forecast of ¥233 billion. Japan net sales fell 3.6% year-on-year to ¥71.2 billion, hurt by significant headwinds from lower Chinese tourism, the company said at a press briefing Tuesday.
