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Makita fiscal Q2 profit climbs 31.8% YOY

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Makita fiscal Q2 profit climbs 31.8% YOY

Makita Corp. said its normalized net income for the fiscal second quarter ended Sept. 30 came to ¥46.67 per share, a gain of 31.8% from ¥35.42 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥12.67 billion, a gain of 31.8% from ¥9.62 billion in the year-earlier period.

The normalized profit margin climbed to 10.7% from 9.7% in the year-earlier period.

Total revenue increased 19.3% on an annual basis to ¥117.89 billion from ¥98.78 billion, and total operating expenses increased 17.6% on an annual basis to ¥97.84 billion from ¥83.19 billion.

Reported net income increased 32.3% from the prior-year period to ¥14.34 billion, or ¥52.84 per share, from ¥10.85 billion, or ¥39.95 per share.

As of Nov. 9, US$1 was equivalent to ¥113.67.