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Sotoh fiscal Q2 profit climbs 23.2% YOY

Sotoh Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was ¥15.17 per share, an increase of 23.2% from ¥12.32 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥193.1 million, a gain of 23.2% from ¥156.8 million in the prior-year period.

The normalized profit margin rose to 5.9% from 5.3% in the year-earlier period.

Total revenue rose 10.5% year over year to ¥3.25 billion from ¥2.94 billion, and total operating expenses increased 9.5% year over year to ¥2.97 billion from ¥2.71 billion.

Reported net income increased 24.0% on an annual basis to ¥248.0 million, or ¥19.49 per share, from ¥200.0 million, or ¥15.71 per share.

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