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NGK Spark Plug fiscal Q2 profit climbs 36.1% YOY

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NGK Spark Plug fiscal Q2 profit climbs 36.1% YOY

NGK Spark Plug Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to ¥49.02 per share, an increase of 36.1% from ¥36.01 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥10.67 billion, an increase of 36.1% from ¥7.84 billion in the prior-year period.

The normalized profit margin climbed to 12.6% from 9.8% in the year-earlier period.

Total revenue rose 5.6% on an annual basis to ¥84.43 billion from ¥79.94 billion, and total operating expenses rose from the prior-year period to ¥70.27 billion from ¥67.50 billion.

Reported net income decreased 26.6% year over year to ¥6.22 billion, or ¥28.57 per share, from ¥8.47 billion, or ¥38.92 per share.

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