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Lion Corp. Q2 profit climbs YOY

Lion Corp. said its normalized net income for the second quarter was ¥8.24 per share, an increase from ¥1.07 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥2.40 billion, a gain from ¥303.8 million in the year-earlier period.

The normalized profit margin increased to 2.5% from 0.3% in the year-earlier period.

Total revenue grew 11.9% on an annual basis to ¥97.36 billion from ¥87.04 billion, and total operating expenses increased 8.2% from the prior-year period to ¥93.80 billion from ¥86.70 billion.

Reported net income increased on an annual basis to ¥2.82 billion, or ¥9.70 per share, from ¥130.3 million, or 44 sen per share.

As of Aug. 11, US$1 was equivalent to ¥124.86.