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Niitaka fiscal Q2 profit climbs YOY

Niitaka Co. Ltd. said its normalized net income for the fiscal second quarter ended Nov. 30, 2015, was ¥27.31 per share, an increase from ¥26.04 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥161.3 million, a gain from ¥153.8 million in the year-earlier period.

The normalized profit margin fell to 4.2% from 4.2% in the year-earlier period.

Total revenue climbed 5.7% on an annual basis to ¥3.83 billion from ¥3.62 billion, and total operating expenses rose 5.7% on an annual basis to ¥3.58 billion from ¥3.38 billion.

Reported net income rose 11.9% from the prior-year period to ¥179.0 million, or ¥30.32 per share, from ¥160.0 million, or ¥27.10 per share.

As of Jan. 14, US$1 was equivalent to ¥118.06.