Shiseido lowers annual guidance due to boycott in China

Shiseido has announced a significant reduction in its annual financial targets, due to a boycott by Chinese consumers. This follows the release of treated radioactive water into the Pacific Ocean from the Fukushima nuclear power plant in Japan.

 

Shiseido adjusted its financial expectations for the current year on November 10, due to a boycott of its products in China, linked to the release of water from the Fukushima nuclear power plant accident into the Pacific Ocean.

 

The Japanese cosmetics giant is now targeting an estimated net profit of 18 billion yen (110.6 million euros), down 47% on the initial forecast of 28 billion yen (172.1 million euros).

 

Similarly, annual sales were revised slightly downwards, from 1,000 billion yen (6.1 billion euros) to 980 billion yen (6 billion euros), marking an 8.2% decline on the previous year.

 

Boycott of Fukushima waste water

 

To justify this downward revision, Shiseido pointed to China’s laborious economic recovery and specifically mentioned “the decline in consumer purchases of Japanese products following the release of treated water in Japan”.

 

This reference refers to the release of treated water from the accident-stricken Fukushima nuclear power plant into the Pacific Ocean, even though it complies with international safety standards. This process, which began in August and is expected to last for decades, has scandalized Beijing, although Tokyo and the International Atomic Energy Agency (IAEA) assure us that it is safe for the environment and human health.

 



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Featured photo : ©Marionnaud

Picture of Hugues Reydellet
Hugues Reydellet
Hugues Reydellet is a young and passionate journalist whose favorite subjects are economy, culture, gastronomy, but also cars, and sports. With a sharp pen and an insatiable curiosity, Hugues is constantly on the lookout for new hot information to report.

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