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Nitto Denko fiscal Q4 profit climbs 83.7% YOY

Nitto Denko Corp. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥108.65 per share, a gain of 83.4% from ¥59.23 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥17.99 billion, a gain of 83.7% from ¥9.79 billion in the prior-year period.

The normalized profit margin rose to 8.9% from 5.3% in the year-earlier period.

Total revenue grew 8.9% year over year to ¥201.63 billion from ¥185.23 billion, and total operating expenses climbed from the prior-year period to ¥175.08 billion from ¥169.06 billion.

Reported net income grew 68.9% from the prior-year period to ¥20.99 billion, or ¥126.77 per share, from ¥12.43 billion, or ¥75.18 per share.

For the year, the company's normalized net income totaled ¥417.26 per share, compared to EPS of ¥262.73 in the prior year.

Normalized net income was ¥69.01 billion, an increase from ¥43.43 billion in the prior year.

Full-year total revenue rose on an annual basis to ¥825.24 billion from ¥749.84 billion, and total operating expenses increased on an annual basis to ¥716.33 billion from ¥677.76 billion.

The company said reported net income rose on an annual basis to ¥77.88 billion, or ¥470.85 per share, in the full year, from ¥51.02 billion, or ¥308.63 per share.

As of June 19, US$1 was equivalent to ¥122.78.