Kyowa Hakko Kogyo Co., Ltd. Fiscal 2006 Operating Income up 20.2%

TOKYO--(BUSINESS WIRE)--Kyowa Hakko Kogyo Co. Ltd. (Kyowa Hakko) (TOKYO:4151) today announced its consolidated financial results for the year ended March 31, 2007 (Fiscal 2006). Consolidated operating income was 30.6 billion Yen, an increase of 20.2% compared to fiscal 2005, and ahead of the company’s October 2006 forecast of 29.0 billion Yen. Fiscal 2006 consolidated net sales were 354.2 billion Yen, up 0.2%, while recurring income increased 9.5% to 30.9 billion Yen. Consolidated net income was affected by extraordinary losses, including losses on the sale of subsidiaries’ shares and asset impairment losses, and declined by 22.0% to 12.6 billion Yen.