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Shimamura fiscal Q2 profit falls YOY

Shimamura Co. Ltd. said its normalized net income for the fiscal second quarter ended Aug. 20 came to ¥190.78 per share, a decrease of 13.6% from ¥220.81 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥7.01 billion, a decline of 13.6% from ¥8.12 billion in the prior-year period.

The normalized profit margin fell to 5.5% from 6.2% in the year-earlier period.

Total revenue declined on an annual basis to ¥127.83 billion from ¥131.21 billion, and total operating expenses declined from the prior-year period to ¥117.29 billion from ¥118.75 billion.

Reported net income declined 12.1% on an annual basis to ¥6.94 billion, or ¥188.71 per share, from ¥7.90 billion, or ¥214.75 per share.

As of Oct. 2, US$1 was equivalent to ¥108.61.