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Kose RE Co. fiscal Q2 profit climbs YOY

Kose R.E. Co. Ltd. said its normalized net income for the fiscal second quarter ended July 31 was ¥41.93 per share, a gain from ¥10.05 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥339.9 million, an increase from ¥82.0 million in the year-earlier period.

The normalized profit margin increased to 12.4% from 6.0% in the year-earlier period.

Total revenue increased on an annual basis to ¥2.75 billion from ¥1.37 billion, and total operating expenses grew 78.9% from the prior-year period to ¥2.19 billion from ¥1.23 billion.

Reported net income increased on an annual basis to ¥314.3 million, or ¥38.78 per share, from ¥75.6 million, or ¥9.27 per share.

As of Sept. 11, US$1 was equivalent to ¥106.82.