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Sekisui House fiscal Q2 profit falls YOY

Sekisui House Ltd. said its normalized net income for the fiscal second quarter ended July 31 was ¥32.12 per share, a decrease from ¥33.61 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥23.19 billion, a decrease from ¥24.27 billion in the year-earlier period.

The normalized profit margin increased to 5.1% from 5.0% in the year-earlier period.

Total revenue fell 5.9% on an annual basis to ¥458.62 billion from ¥487.57 billion, and total operating expenses declined 5.4% on an annual basis to ¥423.24 billion from ¥447.63 billion.

Reported net income decreased 10.9% on an annual basis to ¥21.06 billion, or ¥29.17 per share, from ¥23.64 billion, or ¥32.73 per share.

As of Sept. 12, US$1 was equivalent to ¥107.36.