Slowdown in Chinese economy, trade friction squeeze Asahi Kasei’s income

摘要

Asahi Kasei reports a 33% decline in net income to ￥24.3 billion ($224.7 million) for the fscal frst quarter ended 30 June, from ￥36.4 billion in the same period of the previous year. Operating income decreased 13.7% year on year (YOY) to ￥41.3 billion from ￥47.8 billion and sales rose 2.5% YOY to ￥502 billion. Operating income at Asahi’s materials business declined by 25.9% YOY to ￥25.9 billion, on sales down 3.2% YOY to ￥ 271.4 billion.