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Daikin Industries fiscal Q2 profit climbs 28.7% YOY

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Daikin Industries fiscal Q2 profit climbs 28.7% YOY

Daikin Industries Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to ¥127.70 per share, a gain of 28.6% from ¥99.31 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥37.29 billion, an increase of 28.7% from ¥28.97 billion in the prior-year period.

The normalized profit margin increased to 7.7% from 6.3% in the year-earlier period.

Total revenue rose 5.1% year over year to ¥484.77 billion from ¥461.18 billion, and total operating expenses increased year over year to ¥425.50 billion from ¥410.84 billion.

Reported net income rose 25.9% year over year to ¥39.99 billion, or ¥136.94 per share, from ¥31.77 billion, or ¥108.90 per share.

As of Nov. 13, US$1 was equivalent to ¥115.76.