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Aisin Seiki fiscal Q2 profit climbs 78.9% YOY

Aisin Seiki Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to ¥77.95 per share, a gain of 86.1% from ¥41.89 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥21.55 billion, an increase of 78.9% from ¥12.05 billion in the prior-year period.

The normalized profit margin increased to 2.3% from 1.4% in the year-earlier period.

Total revenue grew 9.2% on an annual basis to ¥938.07 billion from ¥858.87 billion, and total operating expenses climbed 7.4% from the prior-year period to ¥883.58 billion from ¥823.08 billion.

Reported net income rose 88.6% from the prior-year period to ¥24.51 billion, or ¥88.65 per share, from ¥13.00 billion, or ¥45.18 per share.

As of Nov. 13, US$1 was equivalent to ¥113.50.