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ICDA Holdings fiscal Q2 profit climbs YOY

International Conglomerate of Distribution for Automobile Holdings Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was ¥35.42 per share, an increase from ¥34.85 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥74.4 million, a gain from ¥73.3 million in the prior-year period.

The normalized profit margin climbed to 1.3% from 1.2% in the year-earlier period.

Total revenue came to ¥5.89 billion, compared with ¥5.87 billion in the year-earlier period, and total operating expenses totaled ¥5.75 billion, compared with ¥5.74 billion in the year-earlier period.

Reported net income rose 17.5% from the prior-year period to ¥74.0 million, or ¥35.24 per share, from ¥63.0 million, or ¥29.98 per share.

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