Nippon Ski Resort Development Co. Ltd. said its normalized net income for the fiscal second quarter ended Jan. 31 amounted to ¥19.17 per share, a gain of 15.4% from ¥16.62 per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥153.4 million, an increase of 18.0% from ¥129.9 million in the year-earlier period.
The normalized profit margin fell to 7.3% from 8.9% in the year-earlier period.
Total revenue rose 44.2% on an annual basis to ¥2.10 billion from ¥1.46 billion, and total operating expenses rose 49.9% on an annual basis to ¥1.83 billion from ¥1.22 billion.
Reported net income declined 65.3% on an annual basis to ¥54.0 million, or ¥6.75 per share, from ¥155.5 million, or ¥19.89 per share.
As of March 11, US$1 was equivalent to ¥113.49.