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Asahi Kasei fiscal Q4 profit climbs 16.2% YOY

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Asahi Kasei fiscal Q4 profit climbs 16.2% YOY

Asahi Kasei Corp. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥18.66 per share, a gain of 16.2% from ¥16.06 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥26.06 billion, an increase of 16.2% from ¥22.43 billion in the year-earlier period.

The normalized profit margin climbed to 5.0% from 4.6% in the year-earlier period.

Total revenue increased 6.8% on an annual basis to ¥526.15 billion from ¥492.54 billion, and total operating expenses increased 6.0% year over year to ¥481.05 billion from ¥453.98 billion.

Reported net income rose 26.7% from the prior-year period to ¥25.35 billion, or ¥18.15 per share, from ¥20.01 billion, or ¥14.33 per share.

For the year, the company's normalized net income totaled ¥70.69 per share, compared to EPS of ¥71.02 in the prior year.

Normalized net income was ¥98.73 billion, compared with ¥99.20 billion in the prior year.

Full-year total revenue declined year over year to ¥1.883 trillion from ¥1.941 trillion, and total operating expenses fell year over year to ¥1.724 trillion from ¥1.776 trillion.

The company said reported net income grew on an annual basis to ¥115.00 billion, or ¥82.34 per share, in the full year, from ¥91.75 billion, or ¥65.69 per share.

As of June 28, US$1 was equivalent to ¥112.08.