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Oriental Land fiscal Q2 profit falls YOY

Oriental Land Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to ¥53.31 per share, a decline of 5.9% from ¥56.66 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥18.49 billion, a decrease of 6.2% from ¥19.70 billion in the year-earlier period.

The normalized profit margin declined to 15.6% from 16.0% in the year-earlier period.

Total revenue declined on an annual basis to ¥118.49 billion from ¥122.98 billion, and total operating expenses decreased from the prior-year period to ¥89.30 billion from ¥90.38 billion.

Reported net income fell on an annual basis to ¥19.26 billion, or ¥55.54 per share, from ¥19.74 billion, or ¥56.78 per share.

As of Nov. 13, US$1 was equivalent to ¥115.76.