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Transaction Co. fiscal Q2 profit falls YOY

Transaction Co. Ltd. said its normalized net income for the fiscal second quarter ended Feb. 28 came to ¥1.76 per share, a decrease of 22.3% from ¥2.27 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥44.4 million, a decline of 24.5% from ¥58.8 million in the year-earlier period.

The normalized profit margin declined to 1.9% from 2.5% in the year-earlier period.

Total revenue came to ¥2.38 billion, compared with ¥2.36 billion in the year-earlier period, and total operating expenses rose from the prior-year period to ¥2.31 billion from ¥2.26 billion.

Reported net income decreased 13.5% on an annual basis to ¥42.1 million, or ¥1.68 per share, from ¥48.7 million, or ¥1.88 per share.

As of April 13, US$1 was equivalent to ¥120.36.