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Gunze fiscal Q2 profit climbs YOY

Gunze Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was ¥39.46 per share, a gain from ¥11.62 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥761.6 million, a gain from ¥222.8 million in the year-earlier period.

The normalized profit margin rose to 2.3% from 0.6% in the year-earlier period.

Total revenue decreased on an annual basis to ¥33.78 billion from ¥35.42 billion, and total operating expenses declined year over year to ¥33.31 billion from ¥35.00 billion.

Reported net income came to ¥683.3 million, or ¥35.40 per share, compared to a loss of ¥11.3 million, or a loss of 58 sen per share, in the prior-year period.

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