JAPAN: Shiseido Corp. said it will seek further growth and higher shareholder returns under its new three-year business plan by accelerating overseas business expansion, particularly in Asia, and share buybacks.
Japan’s biggest cosmetics maker by sales aims to generate an operating profit equal to 10% or higher of its sales by the fiscal year ending March 2011, up from 8% the company expects for the just-ended fiscal year.
Shiseido said it aims to boost overseas sales to at least 40% of all sales by fiscal 2010, up from an estimated 36% last fiscal year. In addition to China and Russia, Shiseido will seek to build its presence in other emerging markets.
The company aims to launch mid-priced products for the entire Asian region within the next three years.