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Kagome Q2 profit climbs 7.6% YOY

Kagome Co. Ltd. said its second-quarter normalized net income amounted to ¥19.01 per share, a gain of 7.7% from ¥17.66 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.89 billion, an increase of 7.6% from ¥1.76 billion in the year-earlier period.

The normalized profit margin climbed to 3.7% from 3.3% in the year-earlier period.

Total revenue fell on an annual basis to ¥51.35 billion from ¥52.89 billion, and total operating expenses declined on an annual basis to ¥48.63 billion from ¥50.05 billion.

Reported net income declined 19.4% on an annual basis to ¥1.85 billion, or ¥18.66 per share, from ¥2.30 billion, or ¥23.14 per share.

As of Aug. 14, US$1 was equivalent to ¥124.29.