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Fanuc fiscal Q2 profit falls YOY

Fanuc Corp. said its normalized net income for the fiscal second quarter ended Sept. 30 was ¥185.78 per share, a decline of 22.6% from ¥239.92 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥36.35 billion, a decrease of 22.6% from ¥46.94 billion in the year-earlier period.

The normalized profit margin declined to 23.8% from 26.2% in the year-earlier period.

Total revenue fell 15.0% year over year to ¥152.55 billion from ¥179.50 billion, and total operating expenses fell 7.8% year over year to ¥99.17 billion from ¥107.58 billion.

Reported net income fell 16.3% on an annual basis to ¥41.14 billion, or ¥210.28 per share, from ¥49.17 billion, or ¥251.32 per share.

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