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Wakou Shokuhin fiscal Q2 profit falls YOY

Wakou Shokuhin Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to ¥31.30 per share, a decline of 74.1% from ¥120.60 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥25.6 million, a decrease of 74.1% from ¥98.8 million in the prior-year period.

The normalized profit margin dropped to 1.4% from 6.5% in the year-earlier period.

Total revenue rose 18.6% year over year to ¥1.81 billion from ¥1.53 billion, and total operating expenses increased 22.5% year over year to ¥1.77 billion from ¥1.45 billion.

Reported net income decreased 82.8% from the prior-year period to ¥16.0 million, or ¥19.54 per share, from ¥93.0 million, or ¥113.58 per share.

As of Nov. 10, US$1 was equivalent to ¥123.26.