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ARTE Salon Holdings Q2 profit climbs 85.0% YOY

ARTE Salon Holdings Inc. said its normalized net income for the second quarter amounted to ¥4.60 per share, an increase of 85.0% from ¥2.49 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥46.3 million, an increase of 85.0% from ¥25.0 million in the year-earlier period.

The normalized profit margin rose to 2.6% from 1.5% in the year-earlier period.

Total revenue climbed 6.5% year over year to ¥1.79 billion from ¥1.68 billion, and total operating expenses grew on an annual basis to ¥1.73 billion from ¥1.65 billion.

Reported net income came to ¥29.0 million, or ¥2.89 per share, compared to a loss of ¥14.0 million, or a loss of ¥1.39 per share, in the prior-year period.

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