TOKYO — Kao Corporation said Tuesday that its net income for the nine months ending Dec. 31 jumped at a double-digit pace on deferred tax benefits.
The personal care and beauty company is in the process of shifting its fiscal year to end in December rather than in March. So this nine-month period under review, running from April to December, serves as the company's fiscal 2012 year. Percentages changes are calculated using the same nine-month period a year earlier.
Kao said net profit for the nine-month period rose 20.5 percent to 62.39 billion yen, or $720.6 million at an exchange rate provided by the company. Kao said tax benefits linked to the calendar year switch boosted its bottom line.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"