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Shin-Etsu Chemical fiscal Q3 profit climbs 15.7% YOY

Shin-Etsu Chemical Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2016, came to ¥96.74 per share, an increase of 15.7% from ¥83.63 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥41.22 billion, a gain of 15.7% from ¥35.62 billion in the year-earlier period.

The normalized profit margin rose to 13.3% from 10.8% in the year-earlier period.

Total revenue decreased 6.3% year over year to ¥309.20 billion from ¥330.08 billion, and total operating expenses declined 9.9% year over year to ¥250.13 billion from ¥277.47 billion.

Reported net income rose 20.1% on an annual basis to ¥47.80 billion, or ¥112.18 per share, from ¥39.78 billion, or ¥93.41 per share.

As of Feb. 13, US$1 was equivalent to ¥113.90.