Japan’s Asahi Kasei H1 net profit more than doubles; sales up 16.7%

31 October 2013 04:01  [Source: ICIS news]

SINGAPORE (ICIS)--Asahi Kasei’s first-half to September 2013 net profit more than doubled to yen (Y) 46.6bn ($473m) from Y20.6bn in the same period last year, partly on higher sales volumes from the chemicals segment, the Japanese firm said on Thursday.

Net sales for April-September this year grew 16.7% year on year to Y919.0bn, the company said, citing higher exports as the yen progressively weakened during the period.

Operating income surged 94% year on year to Y74.3bn, Asahi Kasei said.

For the fiscal year ending March 2014, the company has revised up its net profit guidance to Y86bn from Y77bn, with net sales seen higher at Y1,904bn compared with a previous forecast of Y1,891bn.

($1 = Y98.56)

By: Pearl Bantillo
+65 6780 4359

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