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Mitsuchi fiscal Q2 profit climbs 60.6% YOY

Mitsuchi Corp. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, came to ¥61.52 per share, an increase of 60.6% from ¥38.30 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥155.6 million, an increase of 60.6% from ¥96.9 million in the year-earlier period.

The normalized profit margin increased to 4.5% from 2.9% in the year-earlier period.

Total revenue rose on an annual basis to ¥3.45 billion from ¥3.37 billion, and total operating expenses came to ¥3.24 billion, compared with ¥3.23 billion in the prior-year period.

Reported net income rose 20.0% on an annual basis to ¥150.0 million, or ¥59.30 per share, from ¥125.0 million, or ¥49.42 per share.

As of Feb. 12, US$1 was equivalent to ¥118.90.