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Asahi Kasei fiscal Q4 profit climbs 16.7% YOY

Asahi Kasei Corp. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥17.28 per share, an increase of 16.8% from ¥14.80 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥24.14 billion, an increase of 16.7% from ¥20.68 billion in the prior-year period.

The normalized profit margin rose to 4.7% from 4.1% in the year-earlier period.

Total revenue climbed on an annual basis to ¥516.34 billion from ¥508.12 billion, and total operating expenses totaled ¥477.12 billion, compared with ¥474.58 billion in the prior-year period.

Reported net income declined 50.9% year over year to ¥17.28 billion, or ¥12.37 per share, from ¥35.22 billion, or ¥25.20 per share.

For the year, the company's normalized net income totaled ¥73.61 per share, compared to EPS of ¥63.32 in the prior year.

Normalized net income was ¥102.84 billion, an increase from ¥88.49 billion in the prior year.

Full-year total revenue grew year over year to ¥1.986 trillion from ¥1.898 trillion, and total operating expenses increased on an annual basis to ¥1.828 trillion from ¥1.754 trillion.

The company said reported net income grew year over year to ¥105.65 billion, or ¥75.62 per share, in the full year, from ¥101.30 billion, or ¥72.48 per share.

As of June 26, US$1 was equivalent to ¥123.96.