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Adastria fiscal Q2 profit falls YOY

Adastria Co. Ltd. said its normalized net income for the fiscal second quarter ended Aug. 31 amounted to ¥9.43 per share, an increase of 7.0% from ¥8.82 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥458.1 million, a decrease of 9.6% from ¥506.9 million in the prior-year period.

The normalized profit margin declined to 1.0% from 1.5% in the year-earlier period.

Total revenue rose 35.0% year over year to ¥44.46 billion from ¥32.94 billion, and total operating expenses rose 36.2% on an annual basis to ¥43.86 billion from ¥32.20 billion.

Reported net income came to a loss of ¥146.9 million, or a loss of ¥3.03 per share, compared to income of ¥595.7 million, or ¥6.03 per share, in the year-earlier period.

As of Oct. 15, US$1 was equivalent to ¥106.21.