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HouseFreedom Q2 profit climbs YOY

HouseFreedom Co. Ltd. said its normalized net income for the second quarter was ¥7.30 per share, a gain from 76 sen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥30.0 million, a gain from ¥3.1 million in the prior-year period.

The normalized profit margin increased to 1.9% from 0.2% in the year-earlier period.

Total revenue rose 12.0% on an annual basis to ¥1.60 billion from ¥1.43 billion, and total operating expenses increased 8.9% from the prior-year period to ¥1.54 billion from ¥1.42 billion.

Reported net income totaled ¥27.0 million, or ¥6.57 per share, compared to a loss of ¥2.0 million, or a loss of 49 sen per share, in the year-earlier period.

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