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Asahi Kasei fiscal Q2 profit climbs YOY

Asahi Kasei Corp. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to ¥20.82 per share, an increase from ¥20.07 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥29.08 billion, a gain from ¥28.04 billion in the year-earlier period.

The normalized profit margin declined to 5.6% from 5.7% in the year-earlier period.

Total revenue increased 6.3% year over year to ¥519.78 billion from ¥489.02 billion, and total operating expenses climbed 7.3% on an annual basis to ¥475.50 billion from ¥443.05 billion.

Reported net income rose 20.4% year over year to ¥32.52 billion, or ¥23.28 per share, from ¥27.02 billion, or ¥19.33 per share.

As of Nov. 13, US$1 was equivalent to ¥115.76.