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Tokyu Recreation Q2 profit falls YOY

Tokyu Recreation Co. Ltd. said its normalized net income for the second quarter came to ¥5.48 per share, a decrease of 24.8% from ¥7.29 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥160.6 million, a decline of 24.9% from ¥213.8 million in the year-earlier period.

The normalized profit margin declined to 2.1% from 2.7% in the year-earlier period.

Total revenue declined year over year to ¥7.59 billion from ¥7.91 billion, and total operating expenses decreased from the prior-year period to ¥7.30 billion from ¥7.56 billion.

Reported net income declined 27.1% year over year to ¥148.0 million, or ¥5.05 per share, from ¥203.0 million, or ¥6.92 per share.

As of Aug. 14, US$1 was equivalent to ¥124.29.