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Maxvalu Tokai fiscal Q2 profit climbs 47.7% YOY

Maxvalu Tokai Co. Ltd. said its normalized net income for the fiscal second quarter ended Aug. 31 amounted to ¥27.64 per share, an increase of 47.8% from ¥18.70 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥492.1 million, a gain of 47.7% from ¥333.1 million in the year-earlier period.

The normalized profit margin increased to 0.9% from 0.7% in the year-earlier period.

Total revenue increased on an annual basis to ¥52.41 billion from ¥51.18 billion, and total operating expenses increased on an annual basis to ¥51.75 billion from ¥50.71 billion.

Reported net income rose on an annual basis to ¥189.8 million, or ¥10.66 per share, from ¥92.4 million, or ¥5.18 per share.

As of Oct. 7, US$1 was equivalent to ¥108.30.