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Look Holdings swings to profit in Q2

Look Holdings Inc. said its second-quarter normalized net income amounted to 16 Japanese sen per share, compared with a loss of 55 sen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥6.1 million, compared with a loss of ¥20.9 million in the prior-year period.

The normalized profit margin increased to 0.1% from negative 0.2% in the year-earlier period.

Total revenue climbed 9.6% year over year to ¥10.92 billion from ¥9.96 billion, and total operating expenses increased 9.7% year over year to ¥11.09 billion from ¥10.11 billion.

Reported net income came to a loss of ¥64.0 million, or a loss of ¥1.68 per share, compared to a loss of ¥102.0 million, or a loss of ¥2.67 per share, in the year-earlier period.

As of Aug. 7, US$1 was equivalent to ¥124.28.