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Nitori Holdings fiscal Q2 profit climbs 28.9% YOY

Nitori Holdings Co. Ltd. said its normalized net income for the fiscal second quarter ended Aug. 20 amounted to ¥89.19 per share, a gain of 28.0% from ¥69.67 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥9.86 billion, an increase of 28.9% from ¥7.65 billion in the year-earlier period.

The normalized profit margin rose to 10.5% from 8.9% in the year-earlier period.

Total revenue climbed 9.4% on an annual basis to ¥93.58 billion from ¥85.56 billion, and total operating expenses increased 6.5% from the prior-year period to ¥78.08 billion from ¥73.28 billion.

Reported net income grew 29.1% from the prior-year period to ¥10.15 billion, or ¥91.75 per share, from ¥7.86 billion, or ¥71.58 per share.

As of Oct. 2, US$1 was equivalent to ¥108.61.