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Kao Q3 profit climbs 61.5% YOY

Kao Corp. said its third-quarter normalized net income amounted to ¥65.42 per share, an increase of 64.0% from ¥39.89 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥32.85 billion, an increase of 61.5% from ¥20.33 billion in the prior-year period.

The normalized profit margin climbed to 8.9% from 6.0% in the year-earlier period.

Total revenue increased 7.6% on an annual basis to ¥367.31 billion from ¥341.31 billion, and total operating expenses grew from the prior-year period to ¥317.17 billion from ¥309.73 billion.

Reported net income increased 79.5% from the prior-year period to ¥34.16 billion, or ¥68.03 per share, from ¥19.02 billion, or ¥37.32 per share.

As of Nov. 9, US$1 was equivalent to ¥123.27.