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Nitto Denko fiscal Q2 profit climbs 48.0% YOY

Nitto Denko Corp. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to ¥89.33 per share, a gain of 48.0% from ¥60.35 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥14.77 billion, a gain of 48.0% from ¥9.98 billion in the prior-year period.

The normalized profit margin rose to 7.1% from 5.4% in the year-earlier period.

Total revenue climbed 11.6% on an annual basis to ¥207.61 billion from ¥185.97 billion, and total operating expenses rose 8.5% on an annual basis to ¥183.83 billion from ¥169.50 billion.

Reported net income grew 60.4% on an annual basis to ¥18.49 billion, or ¥111.86 per share, from ¥11.53 billion, or ¥69.74 per share.

As of Nov. 14, US$1 was equivalent to ¥116.46.