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Marutai swings to profit in fiscal Q2

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Marutai swings to profit in fiscal Q2

Marutai Co.Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was ¥24.86 per share, compared with a loss of ¥22.89 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥47.5 million, compared with a loss of ¥43.8 million in the prior-year period.

The normalized profit margin rose to 2.5% from negative 2.6% in the year-earlier period.

Total revenue grew 16.8% on an annual basis to ¥1.93 billion from ¥1.65 billion, and total operating expenses rose 7.1% year over year to ¥1.86 billion from ¥1.74 billion.

Reported net income totaled ¥65.0 million, or ¥34.01 per share, compared to a loss of ¥81.0 million, or a loss of ¥42.39 per share, in the prior-year period.

As of Nov. 11, US$1 was equivalent to ¥122.91.