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Zojirushi fiscal Q2 profit climbs 90.6% YOY

Zojirushi Corp. said its normalized net income for the fiscal second quarter ended May 20 was ¥27.75 per share, a gain of 90.7% from ¥14.55 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.88 billion, a gain of 90.6% from ¥983.5 million in the year-earlier period.

The normalized profit margin increased to 8.6% from 5.1% in the year-earlier period.

Total revenue climbed 14.7% on an annual basis to ¥21.91 billion from ¥19.10 billion, and total operating expenses grew 9.6% on an annual basis to ¥19.36 billion from ¥17.66 billion.

Reported net income rose on an annual basis to ¥1.85 billion, or ¥27.32 per share, from ¥670.0 million, or ¥9.91 per share.

As of July 3, US$1 was equivalent to ¥122.73.