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Kurabo Industries fiscal Q2 profit falls YOY

Kurabo Industries Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to ¥2.26 per share, a decrease of 12.4% from ¥2.58 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥521.8 million, a decline of 12.4% from ¥595.8 million in the prior-year period.

The normalized profit margin fell to 1.2% from 1.4% in the year-earlier period.

Total revenue totaled ¥41.83 billion, compared with ¥41.51 billion in the prior-year period, and total operating expenses grew on an annual basis to ¥41.22 billion from ¥40.66 billion.

Reported net income declined 97.3% year over year to ¥17.0 million, or 7 sen per share, from ¥623.0 million, or ¥2.70 per share.

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