TOKYO--Onward Kashiyama Co. Ltd. reported sharp gains in profits for the fiscal first half.
Pretax income from operations for the period ended in August climbed to $35.8 million (3.6 billion yen) at current exchange from 402 million yen a year earlier. Sales rose 2.9 percent to $834.6 million (84 billion yen) from 81.7 billion yen.
The apparel manufacturer also reported pretax ordinary earnings--earnings from operations plus non-operational earnings, including interest and dividends--grew to $53.7 million (5.4 billion yen) for the first half of fiscal 1994 from 2.4 billion yen a year ago.
Onward Kashiyama noted that weak sales and earnings of a year ago reflected the recession, unfavorable summer weather and lower selling prices.
Sales for the company's men's wear business, which makes up 50.4 percent of the total, eased 0.5 percent to $421.3 million (42.4 billion yen). Sales of women's wear, 41.6 percent of the business, rose 7 percent to $346.7 million (34.9 billion yen) for the first half.
During the latest half the company introduced two new brands, Gotairiku Casual, casual wear for men and 23-Ku apparel for women. In the half, Gotairiku Casual had sales of $12.5 million (1.26 billion yen) and 23-Ku reported sales of $31.8 million (3.2 billion yen).
For fiscal year ending Feb. 28, 1995, the company expects profits to rise 28 percent to $133.1 million (13.4 billion yen). Sales are projected to be up 3 percent to $1.75 billion (176 billion yen). In addition to manufacturing apparel for the Japanese market, Onward Kashiyama owns j. Press in the U.S. and is affiliated with Jean Paul Gaultier collections in Europe, U.S., Southeast Asia and Japan. Kashiyama also has a venture with Stefanel in Italy.
--Fairchild News Service

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