TOKYO -- Shiseido downgraded its consolidated net profit forecast for 2024 by 72% on Thursday, to 6 billion yen ($39 million) from 22 billion yen, amid continued sluggishness in China and uncertainty in the Japanese cosmetics company's travel retail business.
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Shiseido projects 72% profit decline amid China challenges
Cosmetics maker sharply cuts guidance for fiscal year
Shiseido's net profit for the January-September period plunged 96% year-on-year. (Photo by Tomoki Mera)
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