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Hiday Hidaka fiscal Q2 profit climbs 10.9% YOY

Hiday Hidaka Corp. said its normalized net income for the fiscal second quarter ended Aug. 31 was ¥19.04 per share, an increase of 11.0% from ¥17.16 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥658.8 million, an increase of 10.9% from ¥593.8 million in the prior-year period.

The normalized profit margin rose to 7.7% from 7.5% in the year-earlier period.

Total revenue climbed 7.6% year over year to ¥8.55 billion from ¥7.95 billion, and total operating expenses rose 7.1% from the prior-year period to ¥7.50 billion from ¥7.00 billion.

Reported net income increased 9.4% on an annual basis to ¥614.0 million, or ¥17.75 per share, from ¥561.0 million, or ¥16.21 per share.

As of Oct. 10, US$1 was equivalent to ¥107.98.