Kao hit by European downturn

Published: 30-Apr-2013

Q1 net sales climbed 1.5%


Japan’s Kao Corporation has revealed a tough first quarter for 2013. According to the company, the debt crisis in Europe combined with ongoing weakness in the Japanese economy both had major impacts on the business. Net sales climbed 1.5% compared with the prior year quarter to ¥289.0bn. Operating income also grew, climbing ¥3.9bn from the same quarter in 2012 to ¥18.3bn.

Meanwhile, Kao’s Consumer Products Business grew 2.5% on the same quarter last year, although sales in Japan fell 2% to ¥186.3bn. This was offset by stronger growth in the rest of Asia, the Americas and Europe however, where sales climbed 30.2%, 16.2% and 16.6% respectively.

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