TOKYO -- Kao's January-September group operating profit grew 5% on the year to 137.7 billion yen ($1.21 billion) on strong sales of disposable diapers and other mainstays, but cosmetics emerged as the consumer goods maker's weak link due to lagging luxury brands.
Building on Monday's earnings announcement, Kao has its sights on the "lofty goal" of 200 billion yen in full-year operating profit, as President and CEO Michitaka Sawada called it. Sales also edged up 2% to 1.08 trillion yen while net profit jumped 12% to 96.4 billion yen, both records for the nine-month period, and profitability of consumer goods rose. The company follows international accounting standards.
