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Echo Trading fiscal Q2 profit climbs 13.8% YOY

Echo Trading Co. Ltd. said its normalized net income for the fiscal second quarter ended Aug. 31 was ¥23.09 per share, an increase of 13.8% from ¥20.30 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥139.4 million, an increase of 13.8% from ¥122.5 million in the year-earlier period.

The normalized profit margin increased to 0.7% from 0.7% in the year-earlier period.

Total revenue increased year over year to ¥18.78 billion from ¥18.40 billion, and total operating expenses increased year over year to ¥18.56 billion from ¥18.20 billion.

Reported net income totaled ¥128.0 million, or ¥21.21 per share, compared to ¥127.0 million, or ¥21.04 per share, in the prior-year period.

As of Oct. 14, US$1 was equivalent to ¥107.05.