Massive 146% Income Rise At Fujisawa

Fujisawa of Japan revealed a 146% increase in net income for the first six months ended September 30, 1994 to 4.5 billion yen ($45.8 million). The company said that the significant increase was a result of a decline in the extraordinary loss reserved in the allowance for the loss of Fujisawa USA, and also in the amount of income taxes.

Operating income was ahead 17.9% to 11.6 billion yen due to "an efficient use and curtailment of expenditures within the company." Recurring profits were up 5.1% to 12.2 billion yen.

Total net sales for the first six months were 117.5 billion yen ($1.19 billion), advancing just under 1% on the like, year-earlier period. Of this total, ethical sales amounted to 100.5 billion yen, up 1.8%, consumer products were virtually flat at 7.4 billion yen, sales of medical equipment and supplies declined 47.6% to 789 million yen and sales of chemicals and animal health products dropped 3.5% to 6.7 billion yen.