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Tokyo Gas fiscal Q2 profit climbs 5.4% YOY

Tokyo Gas Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to ¥17.40 per share, a gain of 7.6% from ¥16.16 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥8.32 billion, a gain of 5.4% from ¥7.89 billion in the year-earlier period.

The normalized profit margin rose to 2.0% from 1.6% in the year-earlier period.

Total revenue declined 16.7% on an annual basis to ¥414.04 billion from ¥497.01 billion, and total operating expenses fell 17.4% on an annual basis to ¥398.51 billion from ¥482.44 billion.

Reported net income declined 41.4% year over year to ¥7.19 billion, or ¥15.04 per share, from ¥12.28 billion, or ¥25.15 per share.

As of Nov. 16, US$1 was equivalent to ¥123.10.