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Yamada Denki fiscal Q2 profit climbs YOY

Yamada Denki Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to ¥7.46 per share, an increase from ¥3.13 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥5.96 billion, a gain from ¥2.94 billion in the year-earlier period.

The normalized profit margin rose to 1.4% from 0.6% in the year-earlier period.

Total revenue decreased 10.5% year over year to ¥419.49 billion from ¥468.67 billion, and total operating expenses declined 11.4% on an annual basis to ¥413.76 billion from ¥467.14 billion.

Reported net income rose on an annual basis to ¥3.68 billion, or ¥4.60 per share, from ¥1.64 billion, or ¥1.74 per share.

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