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Toray Industries fiscal Q2 profit climbs 6.9% YOY

Toray Industries Inc. said its normalized net income for the fiscal second quarter ended Sept. 30 came to ¥13.31 per share, an increase of 6.9% from ¥12.45 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥21.31 billion, an increase of 6.9% from ¥19.94 billion in the year-earlier period.

The normalized profit margin fell to 3.9% from 4.2% in the year-earlier period.

Total revenue increased 12.8% on an annual basis to ¥540.13 billion from ¥478.88 billion, and total operating expenses rose 12.9% from the prior-year period to ¥500.93 billion from ¥443.61 billion.

Reported net income declined 9.6% year over year to ¥21.42 billion, or ¥13.38 per share, from ¥23.71 billion, or ¥14.81 per share.

As of Nov. 13, US$1 was equivalent to ¥113.50.