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Ibiden's Attributable Profit Jumps 41% in Fiscal Q1; Shares Rise 5%

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Ibiden (TYO:4062) posted a 41% year-over-year growth in attributable profit for the fiscal first quarter to 17.9 billion yen from 12.7 billion yen.

Basic EPS was 64.14 yen, compared with 45.59 yen a year earlier, according to a Tokyo bourse filing on Tuesday.

Net sales rose 26% to 123.2 billion yen from 97.5 billion yen for the three months ended June 30.

In a separate filing, the electronics company raised its full-year attributable profit forecast to 84.0 billion yen from 58.0 billion yen, basic EPS to 149.68 yen from 103.85 yen and net sales to 550.0 billion yen from 500.0 billion yen.

The revision was due to stronger-than-expected demand for IC package substrates in the electronics business and a weaker yen.

The company plans to pay interim and year-end dividends of 15 and 10 yen per share, respectively, for the current year, which is lower from the year-ago period.

A planned two-for-one stock split led to the revisions on the EPS and dividend forecasts.

Shares of the company rose more than 5% in recent trade.

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