TOKYO (dpa-AFX) - Japan's Shin-Etsu Chemical Co., Ltd. (SHECF.PK, SHECY.PK) reported Wednesday that its nine-month profit increased from last year on sales growth. Further, the company maintained its outlook for the year and dividend payment.
For the period, net income attributable to owners of the parent grew 6.4 percent to 432.54 billion Japanese yen from last year's 406.53 billion yen. Earnings per share increased to 217.53 yen from 202.23 yen a year ago.
Operating income was 584.44 billion yen, up 4.5 percent from 559.53 billion yen in the prior year.
Net sales increased 5.8 percent to 1.93 trillion yen from last year's 1.82 trillion yen.
Looking ahead, for the full year, the company continues to expect attributable net profit of 533 billion yen or 268 yen per share, representing a growth of 2.5 percent from last year. Operating income is still projected to be 735 billion yen, up 4.8 percent from last year.
Shin-Etsu continues to anticipate annual sales to grow 3.5 percent year-on-year to 2.50 trillion yen.
For the full year, the company still projects to pay total dividend of 106 yen per share, higher than previous year's 100 yen per share.
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