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Kao Reports Slightly Weaker Sales Growth In 3Q 2013

October 30, 2013: 12:00 AM EST
Kao Corp. said net sales grew 6.8 percent to ¥950.5 billion in the third quarter ending September 30, 2013. Operating income was ¥81.8 billion, while net income dropped 0.5 percent to ¥39.5 billion. Factors that affected the company’s revenue performance during the period included lingering effects of a weak global economy, a recovery trend in the United States and Europe, and growth in Japan’s household and personal care market. Product recalls by the company’s Kanebo Cosmetics Inc., Lissage Ltd., and e'quipe, Ltd. units also hampered group revenue.
"Kao Summary of Consolidated Business Results for the Nine Months Ended September 30, 2013", Kao Corporation , October 30, 2013, © Kao Corporation
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