Unicharm Shares Rise Sharply After First-Half Net Profit Climbed on Price Increases

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 kosaku.narioka@wsj.com

(END) Dow Jones Newswires

August 06, 2023 22:25 ET (02:25 GMT)

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