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Kaitori Okoku fiscal Q2 profit climbs 84.2% YOY

Kaitori Okoku Co. Ltd. said its normalized net income for the fiscal second quarter ended Aug. 31 came to ¥12.46 per share, a gain of 84.2% from ¥6.76 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥21.9 million, an increase of 84.2% from ¥11.9 million in the prior-year period.

The normalized profit margin rose to 1.7% from 1.0% in the year-earlier period.

Total revenue increased 9.3% on an annual basis to ¥1.31 billion from ¥1.20 billion, and total operating expenses climbed 8.0% year over year to ¥1.27 billion from ¥1.18 billion.

Reported net income grew 81.8% year over year to ¥20.0 million, or ¥11.39 per share, from ¥11.0 million, or ¥6.26 per share.

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