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Chofu Seisakusho Q2 profit falls YOY

Chofu Seisakusho Co. Ltd. said its normalized net income for the second quarter came to ¥3.99 per share, a decline of 79.6% from ¥19.54 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥138.8 million, a decrease of 79.6% from ¥678.8 million in the prior-year period.

The normalized profit margin declined to 1.6% from 7.1% in the year-earlier period.

Total revenue fell 9.7% on an annual basis to ¥8.67 billion from ¥9.60 billion, and total operating expenses fell from the prior-year period to ¥8.99 billion from ¥9.42 billion.

Reported net income declined 73.7% year over year to ¥199.0 million, or ¥5.73 per share, from ¥756.0 million, or ¥21.76 per share.

As of Aug. 11, US$1 was equivalent to ¥124.86.