Maxvalu Nishinihon Co. Ltd. said its normalized net income for the fiscal second quarter ended Aug. 31 amounted to ¥27.21 per share, a decrease of 25.7% from ¥36.62 per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥711.9 million, a decrease of 26.2% from ¥964.4 million in the year-earlier period.
The normalized profit margin fell to 1.0% from 1.4% in the year-earlier period.
Total revenue climbed on an annual basis to ¥68.72 billion from ¥67.50 billion, and total operating expenses climbed from the prior-year period to ¥67.81 billion from ¥66.05 billion.
Reported net income decreased 50.5% from the prior-year period to ¥153.0 million, or ¥5.85 per share, from ¥309.3 million, or ¥11.74 per share.
As of Oct. 6, US$1 was equivalent to ¥109.17.
