Toyota Industries Corp. said its normalized net income for the fiscal second quarter ended Sept. 30 came to ¥61.10 per share, a gain of 20.5% from ¥50.73 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥18.97 billion, a gain of 19.3% from ¥15.90 billion in the prior-year period.

The normalized profit margin rose to 3.9% from 2.9% in the year-earlier period.

Total revenue fell 10.2% on an annual basis to ¥492.55 billion from ¥548.64 billion, and total operating expenses declined 11.3% on an annual basis to ¥459.75 billion from ¥518.54 billion.

Reported net income rose 6.2% year over year to ¥20.93 billion, or ¥67.41 per share, from ¥19.71 billion, or ¥62.88 per share.

As of Nov. 10, US$1 was equivalent to ¥113.32.