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Renesas Electronics fiscal Q2 profit climbs 53.0% YOY

Renesas Electronics Corp. said its normalized net income for the fiscal second quarter ended Sept. 30 came to ¥12.52 per share, an increase of 53.0% from ¥8.19 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥20.88 billion, an increase of 53.0% from ¥13.65 billion in the year-earlier period.

The normalized profit margin rose to 11.5% from 6.6% in the year-earlier period.

Total revenue decreased 12.6% on an annual basis to ¥181.40 billion from ¥207.67 billion, and total operating expenses decreased 18.2% on an annual basis to ¥150.67 billion from ¥184.13 billion.

Reported net income rose 97.8% on an annual basis to ¥27.54 billion, or ¥16.52 per share, from ¥13.92 billion, or ¥8.35 per share.

As of Nov. 6, US$1 was equivalent to ¥123.17.