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Belc fiscal Q2 profit climbs 8.7% YOY

Belc Co. Ltd. said its normalized net income for the fiscal second quarter ended Aug. 31 amounted to ¥65.92 per share, an increase of 8.7% from ¥60.62 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.38 billion, a gain of 8.7% from ¥1.26 billion in the year-earlier period.

The normalized profit margin dropped to 3.4% from 3.5% in the year-earlier period.

Total revenue rose 10.4% year over year to ¥40.34 billion from ¥36.55 billion, and total operating expenses grew 10.5% on an annual basis to ¥38.20 billion from ¥34.56 billion.

Reported net income grew 19.7% from the prior-year period to ¥1.36 billion, or ¥65.03 per share, from ¥1.13 billion, or ¥54.34 per share.

As of Oct. 14, US$1 was equivalent to ¥107.05.