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Aisin Seiki fiscal Q2 profit falls YOY

Aisin Seiki Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was ¥51.01 per share, a decrease of 21.6% from ¥65.06 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥14.44 billion, a decline of 21.6% from ¥18.41 billion in the year-earlier period.

The normalized profit margin fell to 2.0% from 2.7% in the year-earlier period.

Total revenue grew 5.9% on an annual basis to ¥727.83 billion from ¥687.43 billion, and total operating expenses rose 7.8% on an annual basis to ¥695.78 billion from ¥645.46 billion.

Reported net income declined 36.5% on an annual basis to ¥12.82 billion, or ¥45.28 per share, from ¥20.17 billion, or ¥71.28 per share.

As of Nov. 12, US$1 was equivalent to ¥115.15.