Shiseido profit forecast falls below market estimates

Shiseido profit forecast falls below market estimates

Shiseido has reported its annual operating forecast has fallen below market estimations to 4.4 percent, news which contributed 13 negative points to the Nikkei, according to a report by Reuters.

The news comes as the impending US-Japan trade talks commence.

Despite Shiseido having raised its operating profit forecast to 110 billion yen from the previously estimated 90 million, the figure still falls below Reuters analyst expectations of 118.1 billion yen.

Hikaru Sato, a Senior Technical Analyst at Daiwa Securities, told Reuters, “People are cautious ahead of Thursday’s trade talks… they are bracing for the U.S.’s hard stance on Japan because that has been the pattern with China and Europe.”

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