Shiseido reports 275% net profit increase thanks to Yen depreciation
Japan’s leading beauty group Shiseido ended the first nine months of 2013, with revenue growth of 10.4% and a net increase of 275 % , which benefited both the reduction in costs, and the depreciation of the yen . Sales are flat , however (535.4 billion yen or 3.89 billion euros) . Although the devaluation of the yen last year, in local currency terms , revenues were stable .
For the full year Shiseido expects a further improvement in profits are expected to increase by 26.7 % to 19 billion yen ( 138 million euro ), while previous estimates indicated 15 billion yen (109 million euro ) . It is estimated that sales instead of touching the 750 billion yen ( more than 5.4 billion euro ) , an increase of 1, 4%.