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Right On fiscal Q2 profit falls YOY

Right On Co. Ltd. said its normalized net income for the fiscal second quarter ended Feb. 20 came to ¥33.81 per share, a decline of 14.9% from ¥39.75 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥923.8 million, a decline of 15.0% from ¥1.09 billion in the year-earlier period.

The normalized profit margin dropped to 4.1% from 4.6% in the year-earlier period.

Total revenue decreased 5.2% year over year to ¥22.40 billion from ¥23.63 billion, and total operating expenses fell year over year to ¥20.91 billion from ¥21.88 billion.

Reported net income decreased 10.4% from the prior-year period to ¥852.0 million, or ¥31.19 per share, from ¥951.0 million, or ¥34.78 per share.

As of April 3, US$1 was equivalent to ¥118.89.