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Nitto Denko fiscal Q1 profit climbs 15.5% YOY

Nitto Denko Corp. said its normalized net income for the fiscal first quarter ended June 30 was ¥72.37 per share, an increase of 15.5% from ¥62.64 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥11.96 billion, an increase of 15.5% from ¥10.35 billion in the prior-year period.

The normalized profit margin rose to 6.4% from 5.8% in the year-earlier period.

Total revenue increased year over year to ¥185.91 billion from ¥179.34 billion, and total operating expenses grew year over year to ¥166.59 billion from ¥159.48 billion.

Reported net income totaled ¥12.06 billion, or ¥72.98 per share, compared with ¥12.04 billion, or ¥72.84 per share, in the prior-year period.

As of Aug. 7, US$1 was equivalent to ¥102.16.