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Ichikoh Industries swings to profit in fiscal Q2

Ichikoh Industries Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to ¥2.25 per share, compared with a loss of ¥1.80 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥215.8 million, compared with a loss of ¥173.0 million in the year-earlier period.

The normalized profit margin increased to 1.0% from negative 0.8% in the year-earlier period.

Total revenue came to ¥22.33 billion, compared with ¥22.25 billion in the year-earlier period, and total operating expenses rose from the prior-year period to ¥22.75 billion from ¥22.41 billion.

Reported net income totaled ¥292.0 million, or ¥3.04 per share, compared to a loss of ¥669.0 million, or a loss of ¥6.98 per share, in the prior-year period.

As of Nov. 14, US$1 was equivalent to ¥116.46.