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Japan Tobacco Q2 profit falls YOY

Japan Tobacco Inc. said its second-quarter normalized net income was ¥50.17 per share, a decline of 25.4% from ¥67.25 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥89.89 billion, a decline of 26.5% from ¥122.29 billion in the prior-year period.

Total revenue came to ¥616.83 billion, compared with ¥611.18 billion in the prior-year period, and total operating expenses increased 15.9% year over year to ¥472.18 billion from ¥407.53 billion.

Reported net income fell 22.8% year over year to ¥107.27 billion, or ¥59.87 per share, from ¥139.04 billion, or ¥76.46 per share.

As of Aug. 4, US$1 was equivalent to ¥123.92.