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MaxValu Tohoku fiscal Q2 profit climbs YOY

MaxValu Tohoku Co. Ltd. said its normalized net income for the fiscal second quarter ended Aug. 31 amounted to ¥5.98 per share, a gain from ¥2.55 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥108.8 million, a gain from ¥45.0 million in the year-earlier period.

The normalized profit margin rose to 0.4% from 0.2% in the year-earlier period.

Total revenue increased 11.5% year over year to ¥29.02 billion from ¥26.02 billion, and total operating expenses grew 11.2% from the prior-year period to ¥28.85 billion from ¥25.95 billion.

Reported net income totaled ¥138.0 million, or ¥7.58 per share.

As of Oct. 6, US$1 was equivalent to ¥109.17.