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Kajima swings to profit in fiscal Q2

Kajima Corp. said its normalized net income for the fiscal second quarter ended Sept. 30 was ¥12.41 per share, compared with a loss of 76 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥12.88 billion, compared with a loss of ¥787.8 million in the prior-year period.

The normalized profit margin climbed to 3.0% from negative 0.2% in the year-earlier period.

Total revenue increased 5.4% on an annual basis to ¥422.66 billion from ¥400.97 billion, and total operating expenses came to ¥402.20 billion, compared with ¥404.26 billion in the prior-year period.

Reported net income grew 357.4% on an annual basis to ¥12.28 billion, or ¥11.82 per share, from ¥2.68 billion, or ¥2.58 per share.

As of Nov. 11, US$1 was equivalent to ¥122.91.