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Nippon Paint Holdings fiscal Q2 profit falls YOY

Nippon Paint Holdings Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to ¥18.23 per share, a decrease of 33.6% from ¥27.46 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥5.85 billion, a decrease of 18.3% from ¥7.16 billion in the year-earlier period.

The normalized profit margin fell to 4.1% from 11.1% in the year-earlier period.

Total revenue increased 121.2% on an annual basis to ¥143.10 billion from ¥64.69 billion, and total operating expenses grew 117.3% from the prior-year period to ¥124.03 billion from ¥57.08 billion.

Reported net income fell 9.5% on an annual basis to ¥8.61 billion, or ¥26.83 per share, from ¥9.51 billion, or ¥36.46 per share.

As of Nov. 11, US$1 was equivalent to ¥122.91.