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Yamato International fiscal Q2 profit falls YOY

Yamato International Inc. said its normalized net income for the fiscal second quarter ended Feb. 28 amounted to ¥2.23 per share, a decrease of 17.4% from ¥2.70 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥47.5 million, a decline of 17.4% from ¥57.5 million in the prior-year period.

The normalized profit margin dropped to 0.8% from 0.9% in the year-earlier period.

Total revenue decreased 7.9% on an annual basis to ¥6.00 billion from ¥6.52 billion, and total operating expenses fell 7.7% year over year to ¥5.95 billion from ¥6.45 billion.

Reported net income came to ¥2.0 million, or 9 sen per share, compared to a loss of ¥24.0 million, or a loss of ¥1.13 per share, in the prior-year period.

As of April 14, US$1 was equivalent to ¥119.09.