Kyowa Hakko Nine-Month Operating Income Up 20.6%; Raises Full-year Forecasts

TOKYO--(BUSINESS WIRE)--Kyowa Hakko Kogyo Co., Ltd. (Kyowa Hakko; TOKYO:4151) today announced its third quarter financial results for the nine-month period from April 1, 2007 to December 31, 2007. Consolidated net sales for the period were JPY297.6 billion, an increase of 11.0% compared to the first nine months of the previous fiscal year. Business performance, particularly in the Chemicals business was ahead of plans for the fiscal year. Sales in each business segment increased compared to the first nine months of the previous fiscal year and as a result operating income increased by 20.6% to JPY32.4 billion and recurring income was up 18.7% to JPY32.7 billion. Net income increased by 106.3% to JPY24.0 billion partly due to JPY7.5 billion in extraordinary income from the sale of fixed assets.