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Tokai Senko swings to profit in fiscal Q2

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Tokai Senko swings to profit in fiscal Q2

Tokai Senko K.K. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to ¥5.25 per share, compared with a loss of ¥7.01 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥17.9 million, compared with a loss of ¥23.9 million in the year-earlier period.

The normalized profit margin rose to 0.5% from negative 0.7% in the year-earlier period.

Total revenue grew 9.4% on an annual basis to ¥3.79 billion from ¥3.46 billion, and total operating expenses climbed 5.3% year over year to ¥3.64 billion from ¥3.46 billion.

Reported net income came to ¥51.0 million, or ¥14.97 per share, compared to a loss of ¥23.0 million, or a loss of ¥6.75 per share, in the prior-year period.

As of Nov. 6, US$1 was equivalent to ¥123.17.