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Aisin Seiki fiscal Q2 profit falls YOY

Aisin Seiki Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to ¥49.54 per share, a decline from ¥51.01 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥14.05 billion, a decline from ¥14.44 billion in the prior-year period.

The normalized profit margin dropped to 1.8% from 2.0% in the year-earlier period.

Total revenue rose 8.3% on an annual basis to ¥788.01 billion from ¥727.83 billion, and total operating expenses rose 7.5% on an annual basis to ¥748.31 billion from ¥695.78 billion.

Reported net income rose 21.1% from the prior-year period to ¥15.52 billion, or ¥54.71 per share, from ¥12.82 billion, or ¥45.28 per share.

As of Nov. 12, US$1 was equivalent to ¥122.92.