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Shiseido takes $623m hit at Bare Escentuals

Japanese cosmetics giant to make sweeping changes at US subsidiary

TOKYO -- Japanese cosmetics giant Shiseido has been forced into a significant rethink of its U.S. operations after a 70.7 billion yen ($623 million) write-down at subsidiary Bare Escentuals.

Much of the loss at the unit, which was acquired in 2010, came from goodwill impairment charges. Company President Masahiko Uotani told The Nikkei that there is now no choice but to step in and restructure the subsidiary.

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