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Taisei fiscal Q2 profit climbs 25.2% YOY

Taisei Corp. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to ¥64.86 per share, an increase of 21.9% from ¥53.22 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥15.18 billion, a gain of 25.2% from ¥12.12 billion in the year-earlier period.

The normalized profit margin increased to 3.8% from 3.2% in the year-earlier period.

Total revenue rose 4.9% year over year to ¥394.86 billion from ¥376.33 billion, and total operating expenses grew on an annual basis to ¥368.42 billion from ¥358.72 billion.

Reported net income increased 35.3% on an annual basis to ¥16.03 billion, or ¥68.52 per share, from ¥11.85 billion, or ¥52.02 per share.

As of Nov. 10, US$1 was equivalent to ¥123.26.