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Meiko Network Japan fiscal Q2 profit climbs 32.0% YOY

Meiko Network Japan Co. Ltd. said its normalized net income for the fiscal second quarter ended Feb. 28 was ¥42.02 per share, an increase of 32.0% from ¥31.84 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.16 billion, a gain of 32.0% from ¥879.0 million in the year-earlier period.

The normalized profit margin climbed to 21.1% from 19.4% in the year-earlier period.

Total revenue climbed 21.5% year over year to ¥5.49 billion from ¥4.52 billion, and total operating expenses grew 17.8% on an annual basis to ¥3.71 billion from ¥3.15 billion.

Reported net income increased 22.6% from the prior-year period to ¥1.15 billion, or ¥41.70 per share, from ¥939.0 million, or ¥34.02 per share.

As of April 13, US$1 was equivalent to ¥120.36.