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Kyokuyo fiscal Q2 profit falls YOY

Kyokuyo Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was ¥17.26 per share, a decrease of 47.1% from ¥32.64 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥196.6 million, a decrease of 42.7% from ¥342.9 million in the prior-year period.

The normalized profit margin dropped to 0.4% from 0.7% in the year-earlier period.

Total revenue rose 9.3% year over year to ¥53.80 billion from ¥49.24 billion, and total operating expenses rose 9.3% on an annual basis to ¥53.40 billion from ¥48.84 billion.

Reported net income rose year over year to ¥2.04 billion, or ¥179.30 per share, from ¥1.00 billion, or ¥95.49 per share.

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