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Asahi fiscal Q2 profit falls YOY

Asahi Co. Ltd. said its normalized net income for the fiscal second quarter ended Aug. 20 amounted to ¥5.08 per share, a decline of 82.2% from ¥28.49 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥133.1 million, a decrease of 82.2% from ¥747.5 million in the prior-year period.

The normalized profit margin dropped to 1.3% from 6.9% in the year-earlier period.

Total revenue declined on an annual basis to ¥10.63 billion from ¥10.76 billion, and total operating expenses climbed 8.9% from the prior-year period to ¥10.44 billion from ¥9.59 billion.

Reported net income declined 82.7% on an annual basis to ¥118.0 million, or ¥4.51 per share, from ¥683.0 million, or ¥26.03 per share.

As of Oct. 3, US$1 was equivalent to ¥109.75.