Ocean System Corp. said its normalized net income for the fiscal second quarter ended Sept. 30 was ¥10.54 per share, a gain of 14.5% from ¥9.21 per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥103.8 million, an increase of 14.5% from ¥90.6 million in the year-earlier period.
The normalized profit margin climbed to 0.9% from 0.8% in the year-earlier period.
Total revenue climbed year over year to ¥11.34 billion from ¥10.93 billion, and total operating expenses rose from the prior-year period to ¥11.18 billion from ¥10.80 billion.
Reported net income increased 47.6% on an annual basis to ¥93.0 million, or ¥9.45 per share, from ¥63.0 million, or ¥6.40 per share.
As of Nov. 14, US$1 was equivalent to ¥116.46.
