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Asahi Kasei fiscal Q2 profit climbs 37.3% YOY

Asahi Kasei Corp. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to ¥25.09 per share, an increase of 37.3% from ¥18.27 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥35.03 billion, a gain of 37.3% from ¥25.52 billion in the year-earlier period.

The normalized profit margin rose to 6.8% from 5.5% in the year-earlier period.

Total revenue rose 11.0% year over year to ¥516.01 billion from ¥464.90 billion, and total operating expenses grew 8.8% from the prior-year period to ¥461.22 billion from ¥424.01 billion.

Reported net income grew 41.6% from the prior-year period to ¥40.80 billion, or ¥29.22 per share, from ¥28.82 billion, or ¥20.63 per share.

As of Nov. 13, US$1 was equivalent to ¥113.50.