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Fujita swings to profit in fiscal Q2

Fujita Corp. Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to ¥19.09 per share, compared with a loss of ¥3.40 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥18.8 million, compared with a loss of ¥3.1 million in the year-earlier period.

The normalized profit margin rose to 1.4% from negative 0.2% in the year-earlier period.

Total revenue fell 6.7% year over year to ¥1.31 billion from ¥1.40 billion, and total operating expenses decreased 8.6% from the prior-year period to ¥1.27 billion from ¥1.39 billion.

Reported net income totaled ¥36.0 million, or ¥36.66 per share, compared to a loss of ¥12.0 million, or a loss of ¥13.06 per share, in the prior-year period.

As of Nov. 11, US$1 was equivalent to ¥122.91.