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Higashimaru fiscal Q2 profit climbs 67.2% YOY

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Higashimaru fiscal Q2 profit climbs 67.2% YOY

Higashimaru Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to ¥43.30 per share, a gain of 67.2% from ¥25.90 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥203.8 million, an increase of 67.2% from ¥121.9 million in the year-earlier period.

The normalized profit margin climbed to 6.1% from 4.4% in the year-earlier period.

Total revenue climbed 20.8% year over year to ¥3.33 billion from ¥2.76 billion, and total operating expenses rose 18.8% on an annual basis to ¥3.06 billion from ¥2.58 billion.

Reported net income fell 22.4% year over year to ¥173.0 million, or ¥36.77 per share, from ¥223.0 million, or ¥47.40 per share.

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