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ARTE Salon Holdings Q2 profit climbs 37.8% YOY

ARTE Salon Holdings Inc. said its second-quarter normalized net income came to ¥6.34 per share, an increase of 37.8% from ¥4.60 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥63.8 million, a gain of 37.8% from ¥46.3 million in the prior-year period.

The normalized profit margin climbed to 3.5% from 2.6% in the year-earlier period.

Total revenue increased year over year to ¥1.84 billion from ¥1.79 billion, and total operating expenses rose on an annual basis to ¥1.75 billion from ¥1.73 billion.

Reported net income stayed flat year over year at ¥29.0 million, or ¥2.89 per share.

As of Aug. 12, US$1 was equivalent to ¥100.91.