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Mitsuchi fiscal Q2 profit falls YOY

Mitsuchi Corp. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, was ¥48.88 per share, a decline of 20.6% from ¥61.52 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥123.8 million, a decrease of 20.5% from ¥155.6 million in the prior-year period.

The normalized profit margin fell to 3.6% from 4.5% in the year-earlier period.

Total revenue came to ¥3.45 billion, compared with ¥3.45 billion in the year-earlier period, and total operating expenses came to ¥3.23 billion, compared with ¥3.24 billion in the year-earlier period.

Reported net income declined 18.0% year over year to ¥123.0 million, or ¥48.58 per share, from ¥150.0 million, or ¥59.30 per share.

As of Feb. 12, US$1 was equivalent to ¥112.83.