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HKS Co. Ltd. fiscal Q2 profit falls YOY

HKS Co. Ltd. said its normalized net income for the fiscal second quarter ended Feb. 28 amounted to ¥5.13 per share, a decrease of 95.6% from ¥116.31 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥4.0 million, a decrease of 95.7% from ¥93.0 million in the prior-year period.

The normalized profit margin declined to 0.3% from 4.8% in the year-earlier period.

Total revenue fell 18.2% on an annual basis to ¥1.59 billion from ¥1.95 billion, and total operating expenses decreased 12.0% year over year to ¥1.60 billion from ¥1.82 billion.

Reported net income declined 96.7% from the prior-year period to ¥3.0 million, or ¥3.85 per share, from ¥92.0 million, or ¥115.06 per share.

As of April 14, US$1 was equivalent to ¥119.09.