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U-Shin fiscal Q2 profit climbs 12.2% YOY

U-Shin Ltd. said its normalized net income for the fiscal second quarter ended May 31 amounted to ¥17.67 per share, an increase of 20.8% from ¥14.63 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥471.5 million, an increase of 12.2% from ¥420.3 million in the prior-year period.

The normalized profit margin climbed to 1.1% from 1.1% in the year-earlier period.

Total revenue rose 6.0% year over year to ¥42.32 billion from ¥39.94 billion, and total operating expenses climbed 5.8% year over year to ¥41.19 billion from ¥38.94 billion.

Reported net income fell 14.7% from the prior-year period to ¥788.6 million, or ¥29.56 per share, from ¥925.0 million, or ¥32.19 per share.

As of July 14, US$1 was equivalent to ¥123.44.