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Daikin Industries fiscal Q2 profit climbs 7.8% YOY

Daikin Industries Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to ¥153.91 per share, an increase of 7.7% from ¥142.94 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥45.04 billion, an increase of 7.8% from ¥41.79 billion in the year-earlier period.

The normalized profit margin fell to 7.7% from 8.2% in the year-earlier period.

Total revenue increased 15.4% year over year to ¥587.89 billion from ¥509.35 billion, and total operating expenses climbed 16.6% on an annual basis to ¥513.25 billion from ¥440.13 billion.

Reported net income grew 6.8% from the prior-year period to ¥50.51 billion, or ¥172.60 per share, from ¥47.28 billion, or ¥161.68 per share.

As of Nov. 8, US$1 was equivalent to ¥113.64.