Shiseido reported a drop in shares following its first-half earnings due to restructuring costs and a lowered demand in China. Shiseido’s structural reform costs also affected its financial results.
Company shares fell 39.1% year-to-date, and Shiseido’s stock dropped roughly 15.5% on Thursday at the close of the Tokyo Stock Exchange.
On Wednesday, Shiseido reported an operating loss of $18.44 million in the first six months of 2024, compared to a $92 million profit in the previous year.
However, Shiseido is not the only company affected by stalled business in China. L’Oréal also reported a loss in sales in North Asia during the first half of the year.
The slump in sales in China is reportedly caused by changes in purchasing behaviors.
Company shares fell 39.1% year-to-date, and Shiseido’s stock dropped roughly 15.5% on Thursday at the close of the Tokyo Stock Exchange.
On Wednesday, Shiseido reported an operating loss of $18.44 million in the first six months of 2024, compared to a $92 million profit in the previous year.
However, Shiseido is not the only company affected by stalled business in China. L’Oréal also reported a loss in sales in North Asia during the first half of the year.
The slump in sales in China is reportedly caused by changes in purchasing behaviors.
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