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Daikoku Denki fiscal Q2 profit falls YOY

Daikoku Denki Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was ¥29.55 per share, a decrease of 41.9% from ¥50.86 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥436.9 million, a decline of 41.9% from ¥751.9 million in the prior-year period.

The normalized profit margin fell to 2.9% from 5.2% in the year-earlier period.

Total revenue rose on an annual basis to ¥14.98 billion from ¥14.54 billion, and total operating expenses rose 6.9% on an annual basis to ¥14.30 billion from ¥13.37 billion.

Reported net income decreased 31.4% on an annual basis to ¥515.0 million, or ¥34.84 per share, from ¥751.0 million, or ¥50.80 per share.

As of Nov. 14, US$1 was equivalent to ¥116.46.