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Asahi Kasei fiscal Q3 profit climbs 13.1% YOY

Asahi Kasei Corp. said its normalized net income for the fiscal third quarter ended Dec. 31, 2016, amounted to ¥21.36 per share, a gain of 13.2% from ¥18.88 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥29.83 billion, an increase of 13.1% from ¥26.37 billion in the year-earlier period.

The normalized profit margin increased to 6.4% from 5.4% in the year-earlier period.

Total revenue fell 5.1% on an annual basis to ¥466.12 billion from ¥490.94 billion, and total operating expenses declined 5.8% year over year to ¥422.75 billion from ¥448.74 billion.

Reported net income grew 49.5% year over year to ¥36.74 billion, or ¥26.30 per share, from ¥24.58 billion, or ¥17.60 per share.

As of Feb. 13, US$1 was equivalent to ¥113.90.