Japan’s largest cosmetics maker, Shiseido Co Ltd., Tokyo, reported a record profit for the latest business year on Wednesday as aggressive cost cutting and strong overseas sales helped to wipe out two years of red ink. Shiseido, whose brands include Cle de Peau Beaute, Aupres and Ipsa, attributed the turnaround to its efforts to trim inventories and cut its catalogue of brands, which lowered operating expenses.“Sales growth and a sharp improvement in cost efficiency led to record ear...