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Kobe Bussan fiscal Q2 profit climbs 73.4% YOY

Kobe Bussan Co. Ltd. said its normalized net income for the fiscal second quarter ended April 30 amounted to ¥39.91 per share, an increase of 79.2% from ¥22.27 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.08 billion, a gain of 73.4% from ¥625.5 million in the prior-year period.

The normalized profit margin increased to 2.0% from 1.2% in the year-earlier period.

Total revenue climbed 5.9% on an annual basis to ¥55.55 billion from ¥52.47 billion, and total operating expenses increased 5.2% on an annual basis to ¥54.05 billion from ¥51.40 billion.

Reported net income rose from the prior-year period to ¥854.0 million, or ¥31.18 per share, from ¥45.1 million, or a loss of ¥1.57 per share.

As of June 12, US$1 was equivalent to ¥123.29.