TOKYO — Kao Corp. saw its nine-month net profit slide and cut its full-year earnings forecast, citing a change in tax policy.
Kao said Monday its net income for the nine months ended Dec. 31 fell 3.6 percent on the year to 49.38 billion yen, or $635.1 million at an exchange rate provided by the company. The company blamed the drop on the rising cost of raw materials.
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