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Mitsubishi Chemical fiscal Q2 profit climbs 213.0% YOY

Mitsubishi Chemical Holdings Corp. said its normalized net income for the fiscal second quarter ended Sept. 30 came to ¥11.08 per share, a gain of 226.0% from ¥3.40 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥16.31 billion, an increase of 213.0% from ¥5.21 billion in the year-earlier period.

The normalized profit margin climbed to 1.9% from 0.6% in the year-earlier period.

Total revenue rose on an annual basis to ¥861.36 billion from ¥830.32 billion, and total operating expenses climbed year over year to ¥817.14 billion from ¥802.47 billion.

Reported net income rose 68.0% on an annual basis to ¥27.40 billion, or ¥18.60 per share, from ¥16.31 billion, or ¥10.63 per share.

As of Nov. 13, US$1 was equivalent to ¥115.76.