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Japan-Update

Unicharm shares rally on recovery of Asia business

Rising diaper sales drove Japanese company's Q1 profit growth

Unicharm has moved toward higher-priced products such as its Moony brand diapers.

TOKYO -- Unicharm's shares soared Friday on strong first-quarter results that showed the Japanese household goods maker's business rebounding in Asia.

Net profit soared 19% to 11.5 billion yen ($101 million) in the January-March period, with operating profit climbing 24% to 18.7 billion yen based on international financial reporting standards, which the company adopted as of the quarter. Unicharm's fiscal year ends in December.

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