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Shiseido’s First-Quarter Net More than Doubles

Shiseido’s First-Quarter Net More than Doubles

Shiseido’s First-Quarter Net More than Doubles
May 11
11:01 2018
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TOKYO—Shiseido more than doubled its net income in the fiscal first quarter, the company said Friday.
The large jump was due mainly to strong growth in sales of prestige product lines, which afford higher profit margins than drugstore brands. It was also boosted by the company’s cross-border marketing strategy targeting Chinese consumers and travelers.
For the three months ended March 31, Japan’s largest cosmetics company posted net income of 28.87 billion yen ($263.4 million), up from 14 billion yen in the same period  a year prior.
Operating income for the period grew by 95.3 percent to 47.14 billion yen, compared with 24.13 billion yen in the previous year.
“While marketing investment was increased, strong sales of the highly profitable prestige brands in Japan, China, and elsewhere contributed substantially to profit growth,” Shiseido said.
Net sales gained 13.5 percent to 263.76 billion yen, marking the fourth consecutive quarter of double-digit growth for the company.
In terms of geographic regions, the largest sales growth came from travel retail, China, Japan, and Asia Pacific. Travel retail sales grew by 41.9 percent to 21.41 billion yen, and sales in China were up by 28.7 percent to 45.64 billion yen.
“In the China business, the high growth in

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