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Trust fiscal Q2 profit climbs 10.6% YOY

Trust Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was ¥5.92 per share, an increase of 10.6% from ¥5.35 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥153.3 million, an increase of 10.6% from ¥138.5 million in the prior-year period.

The normalized profit margin increased to 3.4% from 3.3% in the year-earlier period.

Total revenue rose 7.5% year over year to ¥4.56 billion from ¥4.24 billion, and total operating expenses increased 6.3% on an annual basis to ¥4.11 billion from ¥3.86 billion.

Reported net income increased 19.0% from the prior-year period to ¥169.0 million, or ¥6.53 per share, from ¥142.0 million, or ¥5.49 per share.

As of Nov. 6, US$1 was equivalent to ¥123.17.