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Toray Industries fiscal Q2 profit climbs 40.9% YOY

Toray Industries Inc. said its normalized net income for the fiscal second quarter ended Sept. 30 came to ¥12.60 per share, an increase of 47.8% from ¥8.53 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥20.17 billion, a gain of 40.9% from ¥14.31 billion in the year-earlier period.

The normalized profit margin climbed to 4.0% from 3.2% in the year-earlier period.

Total revenue climbed 10.7% on an annual basis to ¥499.36 billion from ¥451.01 billion, and total operating expenses climbed 10.5% from the prior-year period to ¥469.56 billion from ¥424.75 billion.

Reported net income grew 64.9% from the prior-year period to ¥26.55 billion, or ¥16.59 per share, from ¥16.11 billion, or ¥9.60 per share.

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