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J. Front Retailing fiscal Q2 profit falls YOY

J. Front Retailing Co. Ltd. said its normalized net income for the fiscal second quarter ended Aug. 31 amounted to ¥14.71 per share, a decrease of 19.2% from ¥18.21 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥3.88 billion, a decrease of 19.3% from ¥4.81 billion in the year-earlier period.

The normalized profit margin dropped to 1.4% from 1.7% in the year-earlier period.

Total revenue fell on an annual basis to ¥272.31 billion from ¥283.40 billion, and total operating expenses decreased year over year to ¥264.35 billion from ¥274.27 billion.

Reported net income rose 24.0% from the prior-year period to ¥2.88 billion, or ¥10.90 per share, from ¥2.32 billion, or ¥8.79 per share.

As of Oct. 10, US$1 was equivalent to ¥107.98.