Shiseido shares fall on China slump
Shiseido shares fell after reporting first-half results, citing restructuring costs and lower demand in China. Shiseido's structural reform costs also weighed on its financial results.
Year to date, the company's shares are down 39.1%, and were down about 15.5% at the close of trading on the Tokyo Stock Exchange on Thursday.
On August 7, Shiseido reported an operating loss of $18.44 million for the first six months of 2024, compared with a profit of $92 million in the same period last year.
However, Shiseido is not the only company whose business in China has stagnated. L'Oréal also reported a decline in sales in North Asia in the first half of the year. The decline in sales in China was reportedly due to changes in purchasing behavior.
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