TOKYO, Oct 28 (Reuters) - Toyoda Gosei Co, a Japanese maker of car parts and high-tech components, said on Monday first-half profit soared 415 percent from a year earlier on brisk demand for auto parts and diodes used to illuminate cellphone screens.
Group net profit totalled 11 billion yen ($88.50 million), or 89.03 yen per share, for the six months to September 30, with interim revenue up 9.4 percent year-on-year to 161.41 billion yen.
Profit also got a boost from some 10 billion yen in one-off gains from a decision to shift management of part of the firm's pensions back to the government, said an official with Toyoda Gosei, which is owned 41.7 percent by Toyota Motor Corp .
Following the posting of the solid profit, which was slightly more than the firm's recently raised estimate, shares in Toyoda Gosei ended trade up 3.13 percent at 2,635 yen -- their 2002 high -- against a 0.36 percent rise in the Nikkei average .
In early October, the company raised its estimate for half-year profit to 10.5 billion yen, more than tripling its May forecast of three billion yen.
Toyoda Gosei said its auto-parts business got a boost from increased domestic output at automakers and expanded sales in the North American market, while demand has also risen for light-emitting diodes (LEDs) used in mobile phones.
For the full year through next March, Toyoda Gosei revised up its forecast for group net profit to 14 billion yen, or 113.43 yen per share, more than tripling last year's profit of 4.06 billion yen.
In May, it forecast a group net profit of 6.5 billion yen for the full year.
The company also raised its planned annual dividend payout for 2002/03 to 13 yen per share, of which 6.5 yen would be paid for the first half, against last year's 11 yen.
Shares in Toyoda Gosei have more than doubled in value since their February low of 1,195 yen.
The rise came on improved prospects for Toyoda Gosei's LED business after the firm settled a long and bitter patent dispute with blue LED pioneer Nichia Corp and announced new technology for LEDs used to light up cellphone displays. ($1=124.29 yen)