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Nitto Denko fiscal Q3 profit climbs 19.6% YOY

Nitto Denko Corp. said its normalized net income for the fiscal third quarter ended Dec. 31, 2016, amounted to ¥135.03 per share, a gain of 21.7% from ¥110.91 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥21.95 billion, a gain of 19.6% from ¥18.35 billion in the prior-year period.

The normalized profit margin rose to 10.4% from 8.8% in the year-earlier period.

Total revenue rose on an annual basis to ¥211.24 billion from ¥207.64 billion, and total operating expenses declined on an annual basis to ¥175.75 billion from ¥178.21 billion.

Reported net income rose 5.9% year over year to ¥25.65 billion, or ¥157.80 per share, from ¥24.21 billion, or ¥146.35 per share.

As of Feb. 2, US$1 was equivalent to ¥112.39.