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Hoosiers Holdings fiscal Q2 profit falls YOY

Hoosiers Holdings said its normalized net income for the fiscal second quarter ended Sept. 30 came to ¥6.89 per share, a decline of 73.8% from ¥26.28 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥216.9 million, a decrease of 73.9% from ¥829.4 million in the prior-year period.

The normalized profit margin declined to 3.9% from 10.4% in the year-earlier period.

Total revenue declined 31.3% year over year to ¥5.50 billion from ¥8.00 billion, and total operating expenses decreased 23.2% year over year to ¥5.04 billion from ¥6.57 billion.

Reported net income decreased 53.7% on an annual basis to ¥370.4 million, or ¥11.76 per share, from ¥800.0 million, or ¥25.35 per share.

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