By Justina Lee


Shimadzu Corp. shares rose Tuesday after the Japanese precision-instruments maker reported a 20% rise in first-half net profit, thanks to a recovery in the medical and aircraft-equipment businesses and a weaker yen.

The shares rose as much as 6.7% to 4,125 yen in early trade, and were recently 4.4% higher.

The company on Monday after market close reported net profit of 24.50 billion yen ($167.1 million) for the first half ended Sept. 30, up from Y20.49 billion in the same period a year earlier.

Although Shimadzu's sales were weighed by production delays and component shortages due to China's earlier lockdown, a positive boost from foreign-exchange rates helped to support earnings, the company said.

Operating profit for Shimadzu's medical segment rose 6.7%, thanks to a recovery in capital investment by healthcare institutions.

The company's aircraft-equipment business swung to operating profit of Y321 million from an operating loss of Y332 million a year earlier, as demand for air travel recovered from the pandemic.

Net sales for the analytical and measuring instruments segment rose 8.3% to Y141.48 billion, but operating profit declined 2.0% due to higher component costs.

Shimadzu's first-half net sales rose 9.8% to Y221.89 billion.

The company raised its full-year revenue guidance to Y470.00 billion from Y455.00 billion previously.


Write to Justina Lee at justina.lee@wsj.com


(END) Dow Jones Newswires

11-07-22 2109ET