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Corona fiscal Q2 profit falls YOY

Corona Corp. said its normalized net income for the fiscal second quarter ended Sept. 30 came to ¥16.13 per share, a decline of 28.9% from ¥22.67 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥473.1 million, a decline of 28.9% from ¥665.1 million in the prior-year period.

The normalized profit margin dropped to 2.6% from 3.5% in the year-earlier period.

Total revenue decreased on an annual basis to ¥18.31 billion from ¥19.11 billion, and total operating expenses decreased from the prior-year period to ¥17.68 billion from ¥18.16 billion.

Reported net income fell 20.3% year over year to ¥537.0 million, or ¥18.31 per share, from ¥674.0 million, or ¥22.98 per share.

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