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Shin-Etsu Chemical fiscal Q2 profit climbs 39.3% YOY

Shin-Etsu Chemical Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to ¥120.91 per share, an increase of 39.1% from ¥86.93 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥51.58 billion, an increase of 39.3% from ¥37.03 billion in the year-earlier period.

The normalized profit margin climbed to 14.4% from 11.9% in the year-earlier period.

Total revenue climbed 14.8% year over year to ¥358.68 billion from ¥312.31 billion, and total operating expenses increased 9.7% from the prior-year period to ¥276.51 billion from ¥252.14 billion.

Reported net income rose 35.3% from the prior-year period to ¥57.01 billion, or ¥133.65 per share, from ¥42.13 billion, or ¥98.89 per share.

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