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Kosaikogei fiscal Q2 profit climbs YOY

Kosaikogei Co. Ltd. said its normalized net income for the fiscal second quarter ended July 31 amounted to ¥23.36 per share, a gain from ¥1.67 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥8.8 million, an increase from ¥625,000 in the year-earlier period.

The normalized profit margin rose to 1.7% from 0.1% in the year-earlier period.

Total revenue fell 16.3% on an annual basis to ¥529.0 million from ¥632.0 million, and total operating expenses decreased 18.1% from the prior-year period to ¥515.0 million from ¥629.0 million.

Reported net income totaled ¥12.0 million, or ¥32.04 per share.

As of Sept. 11, US$1 was equivalent to ¥106.82.