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Shiseido raises profit guidance for FY'17

Japanese cosmetics company Shiseido Co. Ltd. updated its full-year outlook for 2017 as it announced half-year results driven by strong sales in Asian markets.

Shiseido now expects a 1.2% increase in net income attributable to shareholders to ¥32.5 billion, up from ¥32.1 billion in 2016. It also forecast net sales of ¥965.0 billion for the year, an increase of 13.5% from ¥850.3 billion in 2016.

The company previously projected a 19.0% drop in net income to ¥26 billion and a 10.5% increase in net sales to to ¥940 billion.

Operating profit for the six months ended June 30 jumped 73.9% year over year to ¥34.7 billion from ¥19.9 billion in 2016, while net sales rose 14.5% to ¥472.1 billion from ¥412.3 billion. Net income, however, fell 23.2% to ¥18.8 billion from ¥24.5 billion in the year-ago period.

Shiseido also revised its annual dividend forecast, increasing it to ¥25 per share from the previous estimate of ¥20.

As of Aug. 9, US$1 was equivalent to ¥110.07.