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Shin-Etsu Chemical fiscal Q3 profit climbs 9.6% YOY

Shin-Etsu Chemical Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to ¥83.63 per share, an increase of 9.6% from ¥76.30 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥35.62 billion, a gain of 9.6% from ¥32.50 billion in the year-earlier period.

The normalized profit margin rose to 10.8% from 10.0% in the year-earlier period.

Total revenue rose year over year to ¥330.08 billion from ¥325.80 billion, and total operating expenses decreased from the prior-year period to ¥277.47 billion from ¥283.38 billion.

Reported net income increased 22.7% on an annual basis to ¥39.78 billion, or ¥93.41 per share, from ¥32.43 billion, or ¥76.15 per share.

As of Feb. 10, US$1 was equivalent to ¥114.87.