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Nichirin Q2 profit climbs 65.9% YOY

Nichirin Co. Ltd. said its normalized net income for the second quarter came to ¥48.52 per share, a gain of 66.0% from ¥29.24 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥696.3 million, an increase of 65.9% from ¥419.6 million in the year-earlier period.

The normalized profit margin rose to 5.5% from 3.6% in the year-earlier period.

Total revenue rose 7.0% year over year to ¥12.55 billion from ¥11.74 billion, and total operating expenses increased on an annual basis to ¥11.15 billion from ¥10.69 billion.

Reported net income increased 23.9% on an annual basis to ¥726.0 million, or ¥50.59 per share, from ¥586.0 million, or ¥40.83 per share.

As of Aug. 7, US$1 was equivalent to ¥124.28.