JAPAN: Cosmetics maker Shiseido reported it bounced back from a net loss in 2002 to a profit of $204.8 million for the year ended March 31, 2003. Sales rose 5% to $5.1 billion, driven by overseas sales in China, Asia-Oceania, Europe and the U.S. Executives said the gains were the result of implementing a “dynamic production structure” that can quickly adjust to fluctuations in demand and reduce inventories. Also, the company cut inventories of toiletries, pared down brands and cut back ad spend...