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Asahi Kasei fiscal Q1 profit climbs 45.8% YOY

Asahi Kasei Corp. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥18.07 per share, a gain of 45.8% from ¥12.40 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥25.24 billion, a gain of 45.8% from ¥17.32 billion in the prior-year period.

The normalized profit margin rose to 5.6% from 4.1% in the year-earlier period.

Total revenue increased 5.4% year over year to ¥448.74 billion from ¥425.82 billion, and total operating expenses rose on an annual basis to ¥410.88 billion from ¥395.94 billion.

Reported net income rose 24.8% on an annual basis to ¥30.06 billion, or ¥21.53 per share, from ¥24.09 billion, or ¥17.25 per share.

As of Aug. 8, US$1 was equivalent to ¥110.77.