Asahi Kasei reports 'extraordinary income' of 53bn Yen in 2013

ERJ staff report (TP)

Tokyo – Japan’s Asahi Kasei revealed on 18 March it had an extraordinary income of 53bn Yen (€374m) in fiscal 2013.

The firm said figures for net income in the consolidated performance forecast for fiscal 2013 (1 April 2013 – 31 March 2014) announced on 25 February 2014, has been revised due to the recording of extraordinary income.

Previous and revised forecasts for net sales, operating income and ordinary income all remained unchanged.

Net sales was recorded at 1.89tn Yen (€13.44bn), operating income at 140bn Yen (€989.7m), and ordinary income at 138.5bn Yen (€979.1m).

The previous forecast for net income was 65bn Yen (€459.5m), but the revised forecast is 98bn Yen (€692.8m) – a 50.8 percent increase.

The previous forecast for net income per share was 46.51 Yen (€0.33), but the revised forecast is 70.13 Yen (€0.49).

Asahi Kasei gave its reason for the revision: “With regard to litigation in the US by a consolidated subsidiary of Asahi Kasei against Actelion Ltd. of Switzerland and its affiliated companies and executives in relation to a license agreement for fasudil, a rho-kinase inhibitor discovered and owned by said consolidated subsidiary, the Supreme Court of California made a decision on 12 March 2014.

“Accordingly, Asahi Kasei will record extraordinary income of 53bn Yen [€374m] for the fourth quarter of fiscal 2013 (1 January 2014 – 31 March 2014).”

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Press release from Asahi Kasei