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Asahi Kasei fiscal Q3 profit climbs 44.1% YOY

Asahi Kasei Corp. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to ¥23.47 per share, a gain of 44.1% from ¥16.29 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥32.79 billion, an increase of 44.1% from ¥22.76 billion in the prior-year period.

The normalized profit margin rose to 6.5% from 4.8% in the year-earlier period.

Total revenue grew 6.9% on an annual basis to ¥503.14 billion from ¥470.66 billion, and total operating expenses increased on an annual basis to ¥455.35 billion from ¥435.15 billion.

Reported net income rose 100.0% year over year to ¥38.85 billion, or ¥27.81 per share, from ¥19.43 billion, or ¥13.90 per share.

As of Feb. 13, US$1 was equivalent to ¥118.68.