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Kao Q2 profit climbs YOY

Kao Corp. said its second-quarter normalized net income came to ¥45.15 per share, an increase from ¥12.69 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥22.67 billion, a gain from ¥6.51 billion in the prior-year period.

The normalized profit margin rose to 6.2% from 2.0% in the year-earlier period.

Total revenue increased 12.8% on an annual basis to ¥366.39 billion from ¥324.74 billion, and total operating expenses climbed from the prior-year period to ¥329.70 billion from ¥315.03 billion.

Reported net income rose on an annual basis to ¥22.03 billion, or ¥43.88 per share, from ¥6.45 billion, or ¥12.57 per share.

As of Aug. 7, US$1 was equivalent to ¥124.28.