Shiseido Slashes Profit Forecast on Fukushima Water Release
- Japanese cosmetics firm says impact to last into first quarter
- Mainland China has criticized the release of treated water
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Shiseido Co. slashed its full-year profit forecast on slower demand from Chinese consumers following the release of treated radioactive water at Fukushima.
The Japanese cosmetics company now expects core operating profit of ¥35 billion ($231 million) in the year ending Dec. 31, a 42% reduction from the previous estimate, it said in a statement Friday. It also cut its revenue forecast by 2% to ¥980 billion.