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Car Mate fiscal Q2 profit falls YOY

Car Mate Mfg. Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was ¥1.07 per share, a decline of 87.0% from ¥8.22 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥8.1 million, a decrease of 87.0% from ¥62.5 million in the prior-year period.

The normalized profit margin declined to 0.2% from 1.4% in the year-earlier period.

Total revenue came to ¥4.49 billion, compared with ¥4.53 billion in the prior-year period, and total operating expenses rose on an annual basis to ¥4.50 billion from ¥4.42 billion.

Reported net income declined 82.4% from the prior-year period to ¥12.0 million, or ¥1.58 per share, from ¥68.0 million, or ¥8.95 per share.

As of Nov. 14, US$1 was equivalent to ¥116.46.