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Komatsu Seiren fiscal Q2 profit falls YOY

Komatsu Seiren Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to 58 Japanese sen per share, a decline of 88.5% from ¥4.98 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥24.6 million, a decrease of 88.5% from ¥213.8 million in the prior-year period.

The normalized profit margin dropped to 0.3% from 2.2% in the year-earlier period.

Total revenue fell on an annual basis to ¥9.52 billion from ¥9.81 billion, and total operating expenses totaled ¥9.60 billion, compared with ¥9.62 billion in the year-earlier period.

Reported net income fell 70.9% year over year to ¥85.0 million, or ¥1.99 per share, from ¥292.0 million, or ¥6.81 per share.

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