Unicharm (TYO: 8113) 2Q19 Results: Net Sales Ahead of Consensus, Asia Remains a Growth Engine

Key Points

• Unicharm reported 2Q19 net sales of ¥173.9 billion, ahead of the consensus estimate of ¥173.5 billion and up 5.5% from 2Q18.
• Net sales increased for both the personal care and pet care segments, with pet care up 8.0% year over year.
• Asia (ex Japan) was a key region driving the company’s top-line growth, with 13.2% net sales growth in 2Q19.