TOKYO -- Men's cosmetics maker Mandom likely will generate 7 billion yen ($57.8 million) in operating profit for the fiscal year ending March 31, up 2% and a second straight record but less than what had been forecast.
The Japanese company had projected a 4% rise in operating profit to 7.12 billion yen. Sales of products for hair salons are weak in Japan, and revenues in some parts of Asia are sluggish due to intense competition.
