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Shiseido lifts FY'17 dividend forecast despite profit slide

Shiseido Co. Ltd. on Feb. 8 raised year-end dividend guidance for the fiscal year ended Dec. 31, 2017, on the back of its full-year earnings announcement and "future business potential."

The Japanese cosmetics company now plans to pay a year-end dividend of ¥15 per share, up ¥2.50 from the previous forecast of ¥12.50 per share given Nov. 9, 2017. This brings the full-year dividend planned for fiscal 2017 to ¥27.50 per share.

Meanwhile, Shiseido reported that attributable net income for full-year fiscal 2017 decreased 29.1% year over year to ¥22.75 billion from ¥32.10 billion in 2016, but it still beat the S&P Capital IQ consensus estimate of ¥8.58 billion.

Net EPS came in at ¥56.95 compared to ¥80.41 in the previous year, ahead of S&P Capital IQ's GAAP EPS consensus estimate of ¥28.60.

Net sales reached ¥1.005 trillion in 2017, up 18.2% from ¥850.31 billion in the prior year. Operating income grew 118.7% year over year to ¥80.44 billion from ¥36.78 billion in 2016.

The earnings announcement came one day after Shiseido revised its full-year guidance upward after making two cuts in November 2017. It had also forecast that net sales for fiscal 2017 would break the ¥1 trillion mark for the first time in company history, due to factors such as global growth in its prestige market segment.

The company also noted that it planned to reveal a new medium-term management plan for 2018 through 2020 on March 5.

As of Feb. 7, US$1 was equivalent to ¥109.51.