, Columnist
Shiseido Needs a Night In
Japan's cosmetics giant would do well to focus on customers at home.
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Going out can take quite a toll. You run through money, lose sleep, and eventually that layer of foundation stops concealing how tired you're looking.
It's a situation cosmetics giant Shiseido should be familiar with. Its push to escape Japan's demographic decline by partying with a younger set overseas has pushed the majority of its assets offshore. Global business accounted for 63 percent of sales during the 2015 fiscal year ended Dec. 31, the company said Tuesday. The hangover comes a bit further down the income statement -- all that revenue translated into just 5.6 percent of operating income.