Asahi Kasei net sales up 0.1% in Q3 FY19

13 Feb '20

2 min read

Pic: Asahi Kasei

Asahi Kasei Corporation, a global Japanese chemical company, reported 0.1 per cent growth in net sales to ¥1,588.5 billion (Japanese Yen) in third quarter (Q3) FY19, that ended in December 2019. Operating income for the nine months period decreased 10.7 per cent to ¥140.2 billion compared to ¥157,128 billion in the same period prior year.

Selling, general and administrative expenses in the quarter increased 4.6 per cent to ¥369 billion. Gross profit reduced marginally 0.1 per cent to 509.3 per cent. Ordinary income reduced 12.1 per cent to ¥145.7 billion compared to ¥165.7 billion in same period prior year.

Sales of Homes increased 9.6 per cent to ¥489.7 billion in Q3 FY19 compared to ¥446.8 billion in same period prior year. This includes results of Erickson Framing Operations llc and its consolidated subsidiaries.

Sales in health care improved 6.4 per cent to ¥251.1 billion compared to ¥235.9 billion in same period prior year.

Material sales which includes results of Sage Automotive Interiors, and its consolidated subsidiaries, reduced 6 per cent to ¥835.9 billion compared to ¥889.4 billion in same period prior year.

Sales in Asia reduced 8.1 per cent to ¥340.6 billion. In Americas sales jumped 21.8 per cent to ¥218 billion. Europe sales increased 8.9 per cent to ¥81.2 billion.

Company reported net sales growth at 0.9 per cent to ¥2,190 billion in their forecast for complete FY19 ending in March 2020.

Fibre2Fashion News Desk (JL)

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