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Asahi Kasei fiscal Q2 profit falls YOY

Asahi Kasei Corp. said its normalized net income for the fiscal second quarter ended Sept. 30 was ¥19.89 per share, a decline from ¥20.82 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥27.79 billion, a decline from ¥29.08 billion in the prior-year period.

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

Total revenue decreased year over year to ¥495.06 billion from ¥519.78 billion, and total operating expenses decreased 6.2% from the prior-year period to ¥446.17 billion from ¥475.50 billion.

Reported net income decreased 18.6% year over year to ¥26.47 billion, or ¥18.95 per share, from ¥32.52 billion, or ¥23.28 per share.

As of Nov. 12, US$1 was equivalent to ¥122.92.