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Nitto Denko fiscal Q3 profit climbs 82.6% YOY

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Nitto Denko fiscal Q3 profit climbs 82.6% YOY

Nitto Denko Corp. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to ¥146.91 per share, an increase of 82.5% from ¥80.51 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥24.30 billion, a gain of 82.6% from ¥13.31 billion in the prior-year period.

The normalized profit margin climbed to 10.6% from 6.7% in the year-earlier period.

Total revenue grew 15.5% year over year to ¥230.10 billion from ¥199.29 billion, and total operating expenses rose 6.2% year over year to ¥190.82 billion from ¥179.72 billion.

Reported net income increased 75.3% year over year to ¥26.33 billion, or ¥159.23 per share, from ¥15.02 billion, or ¥90.87 per share.

As of Feb. 13, US$1 was equivalent to ¥118.68.