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Nitto Denko fiscal Q2 profit climbs 38.7% YOY

Nitto Denko Corp. said its normalized net income for the fiscal second quarter ended Sept. 30 came to ¥123.82 per share, a gain of 38.6% from ¥89.33 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥20.48 billion, an increase of 38.7% from ¥14.77 billion in the year-earlier period.

The normalized profit margin increased to 9.6% from 7.1% in the year-earlier period.

Total revenue climbed year over year to ¥212.53 billion from ¥207.61 billion, and total operating expenses declined from the prior-year period to ¥178.94 billion from ¥183.83 billion.

Reported net income grew 49.5% from the prior-year period to ¥27.64 billion, or ¥167.10 per share, from ¥18.49 billion, or ¥111.86 per share.

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