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Seihyo fiscal Q2 profit falls YOY

Seihyo Co. Ltd. said its normalized net income for the fiscal second quarter ended Aug. 31 came to ¥73.15 per share, a decline of 35.1% from ¥112.64 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥30.0 million, a decline of 35.1% from ¥46.3 million in the prior-year period.

The normalized profit margin fell to 2.3% from 3.2% in the year-earlier period.

Total revenue declined 10.5% on an annual basis to ¥1.28 billion from ¥1.43 billion, and total operating expenses declined 9.2% year over year to ¥1.24 billion from ¥1.36 billion.

Reported net income decreased 26.4% from the prior-year period to ¥39.0 million, or ¥95.10 per share, from ¥53.0 million, or ¥129.08 per share.

As of Oct. 15, US$1 was equivalent to ¥106.21.