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Saikaya fiscal Q2 profit falls YOY

Saikaya Co. Ltd. said its normalized net income for the fiscal second quarter ended Aug. 31 amounted to ¥2.25 per share, a decrease of 78.6% from ¥10.51 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥9.4 million, a decline of 80.0% from ¥46.9 million in the prior-year period.

The normalized profit margin dropped to 0.1% from 0.5% in the year-earlier period.

Total revenue decreased 7.3% on an annual basis to ¥8.62 billion from ¥9.30 billion, and total operating expenses decreased 6.8% on an annual basis to ¥8.55 billion from ¥9.17 billion.

Reported net income fell 62.0% year over year to ¥25.8 million, or ¥6.20 per share, from ¥67.9 million, or ¥15.23 per share.

As of Oct. 9, US$1 was equivalent to ¥107.90.