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Nihon Seima fiscal Q2 profit climbs YOY

The Nihon Seima Co.Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was ¥3.24 per share, an increase from ¥1.47 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥11.9 million, a gain from ¥5.4 million in the prior-year period.

The normalized profit margin increased to 1.1% from 0.5% in the year-earlier period.

Total revenue fell 13.1% on an annual basis to ¥1.04 billion from ¥1.19 billion, and total operating expenses declined 12.0% year over year to ¥1.01 billion from ¥1.15 billion.

Reported net income came to ¥16.0 million, or ¥4.36 per share, compared to a loss of ¥2.0 million, or a loss of 55 sen per share, in the year-earlier period.

As of Nov. 13, US$1 was equivalent to ¥122.78.