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Chita Kogyo fiscal Q2 profit climbs 71.3% YOY

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Chita Kogyo fiscal Q2 profit climbs 71.3% YOY

Chita Kogyo Co. Ltd. said its normalized net income for the fiscal second quarter ended Aug. 31 was ¥20.70 per share, a gain of 71.3% from ¥12.08 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥198.3 million, an increase of 71.3% from ¥115.8 million in the year-earlier period.

The normalized profit margin increased to 6.6% from 3.9% in the year-earlier period.

Total revenue came to ¥2.99 billion, compared with ¥2.98 billion in the year-earlier period, and total operating expenses fell from the prior-year period to ¥2.76 billion from ¥2.79 billion.

Reported net income rose 30.6% on an annual basis to ¥192.0 million, or ¥20.04 per share, from ¥147.0 million, or ¥15.35 per share.

As of Oct. 10, US$1 was equivalent to ¥107.98.