Asahi Yukizai Q1 profit falls 25% on sales decline

Asahi Yukizai Corporation reported Q1 net sales of 20.0bn yen, down 1.1% from 20.2bn yen previously. Operating profit fell 22.8% to 2.2bn yen, while net profit declined 24.9% to 1.4bn yen.

The Valve & Piping Systems division saw sales drop 7.0% to 12.1bn yen and operating profit fall 27.2% to 1.8bn yen due to decreased capital investment and factory construction demand.

The Resin division bucked the trend with sales rising 8.9% to 6.1bn yen and operating profit surging 49.7% to 0.4bn yen, driven by electronics materials demand.