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Zwei fiscal Q2 profit falls YOY

Zwei Co. Ltd. said its normalized net income for the fiscal second quarter ended Aug. 31 came to ¥13.08 per share, a decline of 19.4% from ¥16.22 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥51.8 million, a decrease of 19.3% from ¥64.1 million in the year-earlier period.

The normalized profit margin fell to 5.4% from 6.0% in the year-earlier period.

Total revenue decreased 11.0% on an annual basis to ¥953.0 million from ¥1.07 billion, and total operating expenses fell 10.9% year over year to ¥872.0 million from ¥979.0 million.

Reported net income grew 35.6% year over year to ¥77.7 million, or ¥19.64 per share, from ¥57.3 million, or ¥14.50 per share.

As of Oct. 14, US$1 was equivalent to ¥107.05.