Sanyo Housing Nagoya Co. Ltd. said its normalized net income for the fiscal second quarter ended Feb. 28 was ¥26.95 per share, a decline of 40.4% from ¥45.25 per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥399.4 million, a decrease of 40.4% from ¥670.0 million in the prior-year period.
The normalized profit margin dropped to 4.4% from 5.8% in the year-earlier period.
Total revenue fell 20.1% year over year to ¥9.15 billion from ¥11.45 billion, and total operating expenses decreased 17.8% year over year to ¥8.55 billion from ¥10.41 billion.
Reported net income fell 38.9% from the prior-year period to ¥394.6 million, or ¥26.59 per share, from ¥646.1 million, or ¥43.64 per share.
As of April 13, US$1 was equivalent to ¥120.36.
