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Life Corp. fiscal Q2 profit climbs 79.8% YOY

Life Corp. said its normalized net income for the fiscal second quarter ended Aug. 31 came to ¥31.42 per share, a gain of 99.0% from ¥15.79 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.49 billion, an increase of 79.8% from ¥827.5 million in the prior-year period.

The normalized profit margin rose to 1.0% from 0.6% in the year-earlier period.

Total revenue increased 9.2% year over year to ¥146.25 billion from ¥133.90 billion, and total operating expenses grew 8.5% on an annual basis to ¥143.91 billion from ¥132.58 billion.

Reported net income rose 84.7% on an annual basis to ¥1.26 billion, or ¥26.57 per share, from ¥681.0 million, or ¥12.99 per share.

As of Oct. 15, US$1 was equivalent to ¥106.21.