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Marudai Food fiscal Q2 profit climbs YOY

Marudai Food Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was ¥3.72 per share, a gain from ¥1.72 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥483.3 million, a gain from ¥224.0 million in the prior-year period.

The normalized profit margin increased to 0.8% from 0.4% in the year-earlier period.

Total revenue rose 5.3% year over year to ¥56.88 billion from ¥54.00 billion, and total operating expenses grew on an annual basis to ¥56.11 billion from ¥53.64 billion.

Reported net income increased 87.5% from the prior-year period to ¥315.0 million, or ¥2.43 per share, from ¥168.0 million, or ¥1.29 per share.

As of Nov. 14, US$1 was equivalent to ¥116.46.