Tokyotokeiba Co. Ltd. said its normalized net income for the second quarter came to ¥22.92 per share, a gain of 34.2% from ¥17.08 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥655.0 million, a gain of 34.2% from ¥488.1 million in the year-earlier period.

The normalized profit margin rose to 15.5% from 12.9% in the year-earlier period.

Total revenue grew 12.1% on an annual basis to ¥4.24 billion from ¥3.78 billion, and total operating expenses rose 6.2% from the prior-year period to ¥3.19 billion from ¥3.00 billion.

Reported net income increased 86.1% year over year to ¥778.0 million, or ¥27.22 per share, from ¥418.0 million, or ¥14.62 per share.

As of Aug. 11, US$1 was equivalent to ¥124.86.