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Shin-Etsu Chemical fiscal Q2 profit climbs 11.1% YOY

Shin-Etsu Chemical Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to ¥83.62 per share, a gain of 11.1% from ¥75.27 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, an increase of 11.1% from ¥32.05 billion in the year-earlier period.

The normalized profit margin rose to 10.7% from 10.4% in the year-earlier period.

Total revenue increased 7.3% year over year to ¥331.79 billion from ¥309.19 billion, and total operating expenses increased year over year to ¥272.63 billion from ¥260.22 billion.

Reported net income increased 12.5% on an annual basis to ¥39.00 billion, or ¥91.57 per share, from ¥34.67 billion, or ¥81.42 per share.

As of Nov. 12, US$1 was equivalent to ¥122.92.