Shiseido Reports Wider Q1 Loss

Shiseido Co SSDOY posted a wider net loss for the first quarter. Shiseido posted a quarterly net loss of 1.27 billion yen, versus a year-ago loss of Y277 million. Its sales declined to Y149.5 billion, versus Y157.3 billion. Shiseido's domestic sales fell to Y82.1 billion from Y89.6 billion. However, overseas sales dropped to Y67.4 billion from Y67.7 billion. It posted an operating loss of Y3.02 billion, versus a year-ago profit of Y9.06 billion. Shiseido projects current fiscal-year a net profit of Y22 billion on sales of Y710 billion. Shiseido shares closed at $14.38 yesterday.