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Kyoto Tool fiscal Q2 profit climbs YOY

Kyoto Tool Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to ¥77.21 per share, an increase from ¥24.36 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥185.0 million, a gain from ¥58.4 million in the prior-year period.

The normalized profit margin climbed to 9.1% from 3.5% in the year-earlier period.

Total revenue grew 20.2% on an annual basis to ¥2.03 billion from ¥1.69 billion, and total operating expenses rose 11.3% year over year to ¥1.79 billion from ¥1.60 billion.

Reported net income increased 93.8% from the prior-year period to ¥188.0 million, or ¥78.46 per share, from ¥97.0 million, or ¥40.48 per share.

As of Nov. 6, US$1 was equivalent to ¥123.17.