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IZUMI fiscal Q2 profit falls YOY

IZUMI Co. Ltd. said its normalized net income for the fiscal second quarter ended Aug. 31 amounted to ¥59.27 per share, a decrease from ¥59.95 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥4.26 billion, a decrease from ¥4.43 billion in the prior-year period.

The normalized profit margin fell to 3.0% from 3.2% in the year-earlier period.

Total revenue climbed on an annual basis to ¥142.92 billion from ¥138.02 billion, and total operating expenses rose year over year to ¥135.86 billion from ¥130.57 billion.

Reported net income declined 11.9% from the prior-year period to ¥4.42 billion, or ¥61.48 per share, from ¥5.01 billion, or ¥67.79 per share.

As of Oct. 15, US$1 was equivalent to ¥106.21.