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Owari Precise Products fiscal Q2 profit falls YOY

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Owari Precise Products fiscal Q2 profit falls YOY

4277016 said its normalized net income for the fiscal second quarter ended Sept. 30 came to ¥81.75 per share, a decrease of 38.4% from ¥132.78 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥94.5 million, a decrease of 38.5% from ¥153.6 million in the year-earlier period.

The normalized profit margin dropped to 2.3% from 4.1% in the year-earlier period.

Total revenue increased 11.5% year over year to ¥4.15 billion from ¥3.72 billion, and total operating expenses grew 11.4% on an annual basis to ¥3.99 billion from ¥3.59 billion.

Reported net income fell 26.9% year over year to ¥190.0 million, or ¥164.36 per share, from ¥260.0 million, or ¥224.72 per share.

s of Nov. 11, US$1 was equivalent to ¥122.91.Owari Precise Products Co.Ltd.

4277016 said its normalized net income for the fiscal second quarter ended Sept. 30 came to ¥81.75 per share, a decrease of 38.4% from ¥132.78 per share in the year-earlier period.