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Shin-Etsu Chemical fiscal Q2 profit climbs 7.9% YOY

Shin-Etsu Chemical Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was ¥75.27 per share, a gain of 7.8% from ¥69.81 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥32.05 billion, an increase of 7.9% from ¥29.70 billion in the year-earlier period.

The normalized profit margin rose to 10.4% from 9.9% in the year-earlier period.

Total revenue grew on an annual basis to ¥309.19 billion from ¥301.28 billion, and total operating expenses rose year over year to ¥260.22 billion from ¥254.58 billion.

Reported net income grew 9.1% on an annual basis to ¥34.67 billion, or ¥81.42 per share, from ¥31.78 billion, or ¥74.71 per share.

As of Nov. 13, US$1 was equivalent to ¥115.76.