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SMC Corp. fiscal Q2 profit climbs 79.9% YOY

SMC Corp. said its normalized net income for the fiscal second quarter ended Sept. 30 was ¥497.94 per share, an increase of 79.9% from ¥276.83 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥33.47 billion, an increase of 79.9% from ¥18.60 billion in the prior-year period.

The normalized profit margin increased to 23.1% from 16.6% in the year-earlier period.

Total revenue grew 29.0% year over year to ¥144.69 billion from ¥112.14 billion, and total operating expenses grew 18.4% year over year to ¥95.62 billion from ¥80.76 billion.

Reported net income increased 80.0% year over year to ¥37.81 billion, or ¥562.57 per share, from ¥21.00 billion, or ¥312.58 per share.

As of Nov. 8, US$1 was equivalent to ¥113.64.