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Matsuya fiscal Q2 profit falls YOY

Matsuya Co. Ltd. said its normalized net income for the fiscal second quarter ended Aug. 31 was ¥3.45 per share, a decline of 6.9% from ¥3.70 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥182.6 million, a decrease of 6.9% from ¥196.3 million in the year-earlier period.

The normalized profit margin declined to 1.0% from 1.1% in the year-earlier period.

Total revenue grew on an annual basis to ¥17.98 billion from ¥17.29 billion, and total operating expenses increased on an annual basis to ¥17.73 billion from ¥16.97 billion.

Reported net income decreased 54.8% year over year to ¥184.0 million, or ¥3.47 per share, from ¥407.0 million, or ¥7.68 per share.

As of Oct. 10, US$1 was equivalent to ¥107.98.