TOKYO – Consumer goods company Kao Corp.’s net profits for the nine months ended Dec. 31 grew 14.7 percent to 51.21 billion yen, or $628.4 million, due to deferred income taxes, cost reduction activities and more efficient use of advertising expenses.
Operating income increased 18.2 percent to 100.23 billion yen, or $1.23 billion.
Kao’s net sales rose 0.4 percent to 914.44 billion yen, or $11.22 billion. The company said its revenues were “impacted by the contraction of the Japanese cosmetics market in the beauty care business.”
Dollar figures were converted from the yen at an exchange rate provided by the company.
Sales from Kao’s beauty care business, which includes brands such as Kanebo, Molton Brown, Bioré and Jergens, fell 1.8 percent to 409.6 billion yen, or $5.03 billion.
Kao maintained its previously released guidance for the full year ending March 31. It expects sales to increase 0.1 percent to 1.185 trillion yen, or $14.54 billion. Net profits are projected to grow 30.8 percent to 53 billion yen, or $650.4 million.