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Joyful Honda fiscal Q2 profit falls YOY

Joyful Honda Co. Ltd. said its normalized net income for the fiscal second quarter ended Dec. 20, 2014, came to ¥30.52 per share, a decline of 5.8% from ¥32.38 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.57 billion, a decrease of 5.5% from ¥1.67 billion in the prior-year period.

The normalized profit margin fell to 3.7% from 3.7% in the year-earlier period.

Total revenue fell on an annual basis to ¥42.95 billion from ¥44.99 billion, and total operating expenses fell on an annual basis to ¥40.85 billion from ¥42.68 billion.

Reported net income fell 9.6% on an annual basis to ¥1.45 billion, or ¥28.17 per share, from ¥1.61 billion, or ¥31.26 per share.

As of Feb. 3, US$1 was equivalent to ¥117.50.