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Joban Kosan fiscal Q2 profit falls YOY

Joban Kosan Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to ¥98.11 per share, a gain of 49.1% from ¥65.82 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥862.1 million, a decline of 5.4% from ¥910.9 million in the prior-year period.

The normalized profit margin rose to 6.3% from 5.8% in the year-earlier period.

Total revenue decreased 14.2% year over year to ¥13.59 billion from ¥15.84 billion, and total operating expenses declined 15.5% on an annual basis to ¥12.07 billion from ¥14.29 billion.

Reported net income came to ¥1.29 billion, or ¥146.35 per share, compared to ¥1.29 billion, or ¥93.29 per share, in the prior-year period.

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