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Towa Food Service fiscal Q2 profit falls YOY

Towa Food Service Co. Ltd. said its normalized net income for the fiscal second quarter ended Oct. 31 was ¥8.59 per share, compared with ¥8.66 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥70.0 million, compared with ¥70.6 million in the prior-year period.

The normalized profit margin fell to 2.8% from 2.8% in the year-earlier period.

Total revenue climbed on an annual basis to ¥2.51 billion from ¥2.49 billion, and total operating expenses increased year over year to ¥2.40 billion from ¥2.37 billion.

Reported net income fell 12.5% from the prior-year period to ¥56.0 million, or ¥6.87 per share, from ¥64.0 million, or ¥7.85 per share.

As of Dec. 12, US$1 was equivalent to ¥118.57.