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Meiko Network Japan fiscal Q2 profit falls YOY

Meiko Network Japan Co. Ltd. said its normalized net income for the fiscal second quarter ended Feb. 29 came to ¥27.88 per share, a decrease of 33.7% from ¥42.02 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥742.4 million, a decline of 36.0% from ¥1.16 billion in the prior-year period.

The normalized profit margin declined to 14.0% from 21.1% in the year-earlier period.

Total revenue decreased on an annual basis to ¥5.31 billion from ¥5.49 billion, and total operating expenses increased 11.9% on an annual basis to ¥4.15 billion from ¥3.71 billion.

Reported net income declined 44.9% year over year to ¥634.0 million, or ¥23.81 per share, from ¥1.15 billion, or ¥41.70 per share.

As of April 12, US$1 was equivalent to ¥108.56.