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, 2006 to December 31, 2006. Consolidated net sales for the period were 268.1 billion yen, a decline of 1.5% compared to the first nine months of the previous fiscal year. Results were however ahead of initial plans for the fiscal year, driven mainly by strong performances from the Pharmaceuticals business and the Chemicals business. Operating income increased by 17.5% to 26.8 billion yen, benefiting from lower R&D expenses and reduced personnel costs, while net income was affected by extraordinary losses and declined by 20.4 % to 11.6 billion yen.