Japanese cosmetics brand Shiseido announced on Wednesday that its nine-month net profits more than doubled, based on adjusted figures for the same period last year. For the nine-month period which ended September 30, 2016, net income increased 135 percent to a record 37.2 billion yens.
The company attributed this gain to a number of factors including an increase in operating income, as well as to the sale of intellectual property rights associated with the Jean Paul Gaultier brand and gain on the sale of the Kamakura Factory site.
Operating income increased 17.1 percent year on year to 38.7 billion yen. By area, in Japan, operating income increased substantially year on year, as well as in China and Travel Retail because higher sales increased marginal income. In the Americas, Asia-Pacific, and Europe, the Middle East and Africa (EMEA) however, sales fell.
The company’s full-year forecast for net sales and operating income has not changed. It expects net profits to grow by 1.8 percent to 30 billion yen. They do however, expect operating income to decrease significantly year on year in the fourth quarter.