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Shin-Etsu Chemical fiscal Q4 profit climbs 13.2% YOY

Shin-Etsu Chemical Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥83.92 per share, an increase of 13.0% from ¥74.23 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥35.78 billion, a gain of 13.2% from ¥31.62 billion in the year-earlier period.

The normalized profit margin increased to 11.4% from 10.4% in the year-earlier period.

Total revenue grew year over year to ¥315.18 billion from ¥303.89 billion, and total operating expenses totaled ¥257.66 billion, compared with ¥257.79 billion in the year-earlier period.

Reported net income rose 25.5% from the prior-year period to ¥40.68 billion, or ¥95.41 per share, from ¥32.42 billion, or ¥76.11 per share.

For the year, the company's normalized net income totaled ¥350.95 per share, compared to EPS of ¥321.16 in the prior year.

Normalized net income was ¥149.54 billion, a rise from ¥136.80 billion in the prior year.

Full-year total revenue declined year over year to ¥1.237 trillion from ¥1.280 trillion, and total operating expenses fell on an annual basis to ¥998.79 billion from ¥1.071 trillion.

The company said reported net income grew on an annual basis to ¥175.91 billion, or ¥412.83 per share, in the full year, from ¥148.83 billion, or ¥349.42 per share.

As of June 30, US$1 was equivalent to ¥112.37.