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Morinaga & Co. fiscal Q2 profit climbs 18.1% YOY

Morinaga & Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to ¥19.26 per share, a gain of 18.1% from ¥16.30 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.00 billion, a gain of 18.1% from ¥849.0 million in the year-earlier period.

The normalized profit margin rose to 2.2% from 2.0% in the year-earlier period.

Total revenue grew 8.0% on an annual basis to ¥45.83 billion from ¥42.44 billion, and total operating expenses climbed 7.6% on an annual basis to ¥44.24 billion from ¥41.12 billion.

Reported net income rose 47.7% year over year to ¥1.10 billion, or ¥21.11 per share, from ¥744.0 million, or ¥14.29 per share.

As of Nov. 14, US$1 was equivalent to ¥116.46.