shiseido co shares fell sharply monday morning after it posted a 27 drop in net profit for 2022 and projected a further fall this year the shares were recently 55 lower at 6218 yen after falling as much as 63 earlier the japanese cosmetics maker said after fridays market close that net profit dropped to y3420 billion 2603 million in 2022 from y4691 billion the previous year the net profit decline was due in part to impairment loss related to the sale of a business to produce personalcare goods in kuki japan and vietnam shiseido said revenue in 2022 rose 57 to y1067 trillion thanks to the strength of its americas europe and dutyfree businesses as well as a weaker yen despite a revenue drop in china partly owing to covid19 lockdowns for 2023 shiseido projected revenue to fall 63 to y1000 trillion and net profit to drop 18 to y2800 billion