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Heian Ceremony Service fiscal Q2 profit falls YOY

Heian Ceremony Service Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to ¥14.04 per share, a decline of 19.2% from ¥17.37 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥184.4 million, a decline of 19.2% from ¥228.1 million in the prior-year period.

The normalized profit margin dropped to 8.4% from 10.1% in the year-earlier period.

Total revenue fell on an annual basis to ¥2.19 billion from ¥2.25 billion, and total operating expenses came to ¥1.92 billion, compared with ¥1.91 billion in the prior-year period.

Reported net income decreased 15.3% on an annual basis to ¥177.0 million, or ¥13.48 per share, from ¥209.0 million, or ¥15.91 per share.

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