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Ajinomoto fiscal Q2 profit climbs 50.4% YOY

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Ajinomoto fiscal Q2 profit climbs 50.4% YOY

Ajinomoto Co. Inc. said its normalized net income for the fiscal second quarter ended Sept. 30 was ¥21.19 per share, a gain of 50.4% from ¥14.09 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥12.54 billion, a gain of 50.4% from ¥8.34 billion in the prior-year period.

The normalized profit margin climbed to 4.2% from 3.5% in the year-earlier period.

Total revenue rose 24.0% on an annual basis to ¥297.58 billion from ¥240.04 billion, and total operating expenses rose 21.6% on an annual basis to ¥273.30 billion from ¥224.76 billion.

Reported net income rose year over year to ¥9.97 billion, or ¥16.86 per share, from ¥9.80 billion, or ¥16.56 per share.

As of Nov. 13, US$1 was equivalent to ¥122.78.