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KU Holdings fiscal Q2 profit falls YOY

KU Holdings Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was ¥16.65 per share, a decline of 17.5% from ¥20.20 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥529.4 million, a decline of 17.1% from ¥638.8 million in the prior-year period.

The normalized profit margin declined to 3.3% from 4.4% in the year-earlier period.

Total revenue grew 10.0% year over year to ¥16.07 billion from ¥14.60 billion, and total operating expenses rose 12.0% from the prior-year period to ¥15.24 billion from ¥13.60 billion.

Reported net income declined 18.6% year over year to ¥523.0 million, or ¥16.45 per share, from ¥642.4 million, or ¥20.31 per share.

As of Nov. 14, US$1 was equivalent to ¥116.46.