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Shin-Etsu Chemical fiscal Q4 profit climbs 14.3% YOY

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Shin-Etsu Chemical fiscal Q4 profit climbs 14.3% YOY

Shin-Etsu Chemical Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥68.02 per share, an increase of 14.2% from ¥59.58 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥28.97 billion, a gain of 14.3% from ¥25.36 billion in the prior-year period.

The normalized profit margin climbed to 8.9% from 8.6% in the year-earlier period.

Total revenue rose 11.0% year over year to ¥326.01 billion from ¥293.81 billion, and total operating expenses grew 10.1% year over year to ¥280.72 billion from ¥254.94 billion.

Reported net income grew 35.6% year over year to ¥28.58 billion, or ¥67.11 per share, from ¥21.08 billion, or ¥49.54 per share.

For the year, the company's normalized net income totaled ¥291.04 per share, compared to EPS of ¥264.50 in the prior year.

Normalized net income was ¥123.94 billion, a gain from ¥112.52 billion in the prior year.

Full-year total revenue grew year over year to ¥1.256 trillion from ¥1.166 trillion, and total operating expenses grew on an annual basis to ¥1.070 trillion from ¥992.01 billion.

The company said reported net income increased year over year to ¥128.60 billion, or ¥301.98 per share, in the full year, from ¥113.62 billion, or ¥267.07 per share.

As of June 29, US$1 was equivalent to ¥122.67.