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Shin-Etsu Chemical fiscal Q1 profit climbs 33.6% YOY

Shin-Etsu Chemical Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 was ¥111.24 per share, a gain of 33.4% from ¥83.36 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥47.43 billion, an increase of 33.6% from ¥35.51 billion in the year-earlier period.

The normalized profit margin climbed to 14.1% from 11.8% in the year-earlier period.

Total revenue grew 11.8% year over year to ¥336.24 billion from ¥300.72 billion, and total operating expenses rose 9.7% on an annual basis to ¥262.10 billion from ¥238.85 billion.

Reported net income increased 18.5% on an annual basis to ¥53.71 billion, or ¥125.95 per share, from ¥45.31 billion, or ¥106.36 per share.

As of Aug. 9, US$1 was equivalent to ¥110.07.