By Kosaku Narioka
Unicharm shares rose sharply Monday morning after the Japanese maker of diapers and other hygiene products posted a 9.1% increase in first-half net profit thanks to successful price increases.
Shares were recently 8.2% higher at 5,710 yen after rising as much as 12% earlier.
Unicharm said after Friday’s market close that net profit climbed to Y34.67 billion ($244.6 million) from Y31.76 billion in the year-earlier period.
The company said price increases in Japan’s baby diapers and pet-care products led to profit growth. Napkins and other female hygiene products also sold well in the rest of Asia, while higher costs of raw materials weighed on earnings.
First-half revenue rose 7.7% to Y453.94 billion.
Unicharm kept its earnings forecasts for 2023. It said it expects revenue to increase 7.3% to Y963.50 billion and net profit to rise 20% to Y80.90 billion.
Write to Kosaku Narioka at [email protected]
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