SMC Corp. said its normalized net income for the fiscal second quarter ended Sept. 30 was ¥297.03 per share, a decline of 20.2% from ¥372.13 per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥19.96 billion, a decrease of 20.2% from ¥25.00 billion in the year-earlier period.
The normalized profit margin dropped to 16.9% from 22.5% in the year-earlier period.
Total revenue increased 6.3% year over year to ¥118.34 billion from ¥111.32 billion, and total operating expenses grew from the prior-year period to ¥85.48 billion from ¥81.78 billion.
Reported net income decreased 17.7% on an annual basis to ¥23.23 billion, or ¥345.81 per share, from ¥28.23 billion, or ¥420.25 per share.
As of Nov. 9, US$1 was equivalent to ¥123.27.
