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Kappa-Create fiscal Q2 profit climbs YOY

Kappa-Create Co. Ltd. said its normalized net income for the fiscal second quarter ended Aug. 31 came to ¥6.29 per share, an increase from 53 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥252.0 million, an increase from ¥21.3 million in the prior-year period.

The normalized profit margin climbed to 1.3% from 0.1% in the year-earlier period.

Total revenue decreased 22.0% on an annual basis to ¥19.99 billion from ¥25.61 billion, and total operating expenses fell 22.7% on an annual basis to ¥19.69 billion from ¥25.46 billion.

Reported net income came to a loss of ¥1.32 billion, or a loss of ¥32.99 per share, compared to a loss of ¥2.82 billion, or a loss of ¥70.56 per share, in the prior-year period.

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