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Fujita Kanko Q2 profit falls YOY

Fujita Kanko Inc. said its normalized net income for the second quarter came to ¥2.95 per share, a decline of 90.6% from ¥31.39 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥35.4 million, a decline of 90.6% from ¥376.3 million in the prior-year period.

The normalized profit margin declined to 0.2% from 2.3% in the year-earlier period.

Total revenue fell on an annual basis to ¥15.91 billion from ¥16.15 billion, and total operating expenses rose year over year to ¥15.97 billion from ¥15.66 billion.

Reported net income fell 78.4% from the prior-year period to ¥73.0 million, or ¥6.09 per share, from ¥338.0 million, or ¥28.20 per share.

As of Aug. 7, US$1 was equivalent to ¥124.28.