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Koito Manufacturing fiscal Q2 profit climbs 31.6% YOY

Koito Manufacturing Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to ¥56.42 per share, a gain of 31.6% from ¥42.88 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥9.07 billion, a gain of 31.6% from ¥6.89 billion in the year-earlier period.

The normalized profit margin increased to 4.6% from 4.1% in the year-earlier period.

Total revenue increased 17.2% year over year to ¥197.76 billion from ¥168.71 billion, and total operating expenses grew 15.9% year over year to ¥178.95 billion from ¥154.38 billion.

Reported net income increased 19.9% year over year to ¥10.62 billion, or ¥66.06 per share, from ¥8.85 billion, or ¥55.09 per share.

As of Nov. 5, US$1 was equivalent to ¥121.55.