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Chiyoda fiscal Q2 profit falls YOY

Chiyoda Co. Ltd. said its normalized net income for the fiscal second quarter ended Aug. 31 amounted to ¥19.38 per share, a decrease of 37.6% from ¥31.04 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥759.1 million, a decline of 38.2% from ¥1.23 billion in the year-earlier period.

The normalized profit margin dropped to 2.2% from 3.5% in the year-earlier period.

Total revenue decreased on an annual basis to ¥33.98 billion from ¥35.42 billion, and total operating expenses fell year over year to ¥33.04 billion from ¥33.53 billion.

Reported net income fell 57.4% year over year to ¥462.4 million, or ¥11.80 per share, from ¥1.08 billion, or ¥27.41 per share.

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