Happiness & D Co. Ltd. said its normalized net income for the fiscal second quarter ended Feb. 28 came to ¥82.95 per share, a decline of 19.1% from ¥102.56 per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥215.6 million, a decline of 19.2% from ¥266.9 million in the year-earlier period.
The normalized profit margin dropped to 3.9% from 4.6% in the year-earlier period.
Total revenue declined 5.1% on an annual basis to ¥5.50 billion from ¥5.79 billion, and total operating expenses decreased year over year to ¥5.14 billion from ¥5.36 billion.
Reported net income decreased 16.7% from the prior-year period to ¥195.0 million, or ¥75.02 per share, from ¥234.0 million, or ¥89.93 per share.
As of April 13, US$1 was equivalent to ¥120.36.
