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Asahi Kasei posts higher annual income, sales

Asahi Kasei Corp. said its net income and net sales rose for the full fiscal year 2017.

The Japanese chemical company reported net income attributable to owners of the parent of ¥170.25 billion, or ¥121.93 per share, rising from ¥115.00 billion, or ¥82.34 per share, in the previous fiscal year.

Net sales for 2017 increased to ¥2.042 trillion, from ¥1.883 trillion a year ago.

Operating income also rose to ¥198.48 billion from ¥159.23 billion in the previous year.

The company's ordinary income climbed to ¥212.54 billion from ¥160.63 billion. The company attributed the growth to improved terms of trade in chemical operations in its Material segment and generally firm sales.

Cost of sales rose to ¥1.393 trillion from ¥1.296 trillion.

The company paid total annual dividends of ¥34 per share for the year, up from ¥24 in the previous year.

As of May 10, US$1 was equivalent to ¥109.58.