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Tea Life fiscal Q2 profit falls YOY

Tea Life Co. Ltd. said its normalized net income for the fiscal second quarter ended Jan. 31 amounted to ¥16.47 per share, a decrease of 26.3% from ¥22.36 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥70.0 million, a decline of 26.3% from ¥95.0 million in the prior-year period.

The normalized profit margin declined to 3.8% from 5.6% in the year-earlier period.

Total revenue increased 9.2% on an annual basis to ¥1.86 billion from ¥1.70 billion, and total operating expenses increased 12.5% year over year to ¥1.75 billion from ¥1.56 billion.

Reported net income declined 38.5% on an annual basis to ¥59.0 million, or ¥13.89 per share, from ¥96.0 million, or ¥22.59 per share.

As of March 13, US$1 was equivalent to ¥121.18.