Shin-Etsu Chemical (TYO:4063) posted net income attributable to owners of the parent of 130.8 billion yen for the fiscal first quarter, up 3.5% from 126.4 billion yen a year earlier.

Earnings per share rose to 70.24 yen from 66.45 yen a year earlier, according to a Tokyo bourse filing on Friday.

Net sales increased 5.4% to 662.4 billion yen in the three months ended June 30 from 628.5 billion yen a year ago.

The company raised its interim dividend forecast to 58 yen per share from 53 yen paid a year earlier and expects to pay a final dividend of 58 yen per share, bringing the projected annual payout to 116 yen.

Shin-Etsu also raised its full-year forecast, projecting net income attributable to owners of the parent to rose 11% to 525 billion yen, earnings per share of 286 yen and net sales up 4.9% to 2.7 trillion yen for the fiscal year ending March 2027.