Overseas success but domestic slump for Shiseido
Strong sales in the Americas and China cannot compensate for poor sales in Japan and the Yen’s appreciation
Japan’s Shiseido has reported net sales of ¥644.20bn for the fiscal year ended 31 March 2010, a decrease of 6.7% compared to the previous year. The group blamed this slump on its performance on the domestic market, which decreased 3.6% due to the “desire of customers for lower-priced items in the weakened consumer sentiment environment”.
While Shiseido’s overseas sales grew 3% in local currencies – buoyed by strong sales in the Americas and Asia, especially China – sales in this segment declined 9.3% when translated into Yen.
