Total failure - over decades - to diversify the international business in any meaningful way outside China. At a time when a weak JPY should have translated into higher earnings (cf Toyota and Honda), Shiseido manages to grab the tail of the 🇨🇳 dragon as it stalls.
Reposted from
The Japan Times
Cosmetics maker Shiseido downgraded its profit outlook for the next two years on Friday, after a downturn in sales to Chinese consumers.
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