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Koito Manufacturing fiscal Q2 profit climbs 54.1% YOY

Koito Manufacturing Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to ¥42.88 per share, an increase of 54.1% from ¥27.83 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥6.89 billion, an increase of 54.1% from ¥4.47 billion in the prior-year period.

The normalized profit margin climbed to 4.1% from 3.2% in the year-earlier period.

Total revenue increased 21.8% year over year to ¥168.71 billion from ¥138.53 billion, and total operating expenses rose 19.5% on an annual basis to ¥154.38 billion from ¥129.15 billion.

Reported net income grew 82.9% year over year to ¥8.85 billion, or ¥55.09 per share, from ¥4.84 billion, or ¥30.12 per share.

As of Nov. 4, US$1 was equivalent to ¥113.24.