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Nichimo fiscal Q2 profit climbs YOY

Nichimo Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was ¥102.38 per share, a gain from ¥36.58 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥358.3 million, an increase from ¥124.6 million in the prior-year period.

The normalized profit margin increased to 1.3% from 0.5% in the year-earlier period.

Total revenue climbed 7.2% on an annual basis to ¥28.27 billion from ¥26.37 billion, and total operating expenses climbed 6.0% from the prior-year period to ¥27.61 billion from ¥26.04 billion.

Reported net income increased from the prior-year period to ¥453.0 million, or ¥129.45 per share, from ¥77.0 million, or ¥22.60 per share.

As of Nov. 14, US$1 was equivalent to ¥116.46.