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Horiifoodservice fiscal Q2 profit falls YOY

Horiifoodservice Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was ¥9.15 per share, a gain of 46.5% from ¥6.25 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥51.9 million, a decrease from ¥53.1 million in the year-earlier period.

The normalized profit margin dropped to 2.5% from 2.6% in the year-earlier period.

Total revenue increased on an annual basis to ¥2.08 billion from ¥2.05 billion, and total operating expenses grew year over year to ¥1.99 billion from ¥1.96 billion.

Reported net income totaled ¥45.0 million, or ¥7.94 per share, compared to a loss of ¥13.0 million, or a loss of ¥1.53 per share, in the year-earlier period.

As of Nov. 14, US$1 was equivalent to ¥116.46.