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Mitsubishi Chemical fiscal Q2 profit climbs 51.2% YOY

Mitsubishi Chemical Holdings Corp. said its normalized net income for the fiscal second quarter ended Sept. 30 came to ¥16.82 per share, an increase of 51.9% from ¥11.08 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥24.66 billion, an increase of 51.2% from ¥16.31 billion in the prior-year period.

The normalized profit margin increased to 2.6% from 1.9% in the year-earlier period.

Total revenue climbed 9.5% on an annual basis to ¥943.59 billion from ¥861.36 billion, and total operating expenses increased 7.5% from the prior-year period to ¥878.20 billion from ¥817.14 billion.

Reported net income decreased 11.3% year over year to ¥24.29 billion, or ¥16.56 per share, from ¥27.40 billion, or ¥18.60 per share.

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