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Sokensha swings to profit in fiscal Q2

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Sokensha swings to profit in fiscal Q2

Sokensha Co.Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to ¥3.56 per share, compared with a loss of ¥17.73 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥2.5 million, compared with a loss of ¥12.5 million in the year-earlier period.

The normalized profit margin climbed to 0.2% from negative 1.3% in the year-earlier period.

Total revenue rose 14.4% on an annual basis to ¥1.11 billion from ¥970.0 million, and total operating expenses increased 11.5% year over year to ¥1.11 billion from ¥992.0 million.

Reported net income came to ¥17.0 million, or ¥24.23 per share, compared to a loss of ¥22.0 million, or a loss of ¥31.21 per share, in the prior-year period.

As of Nov. 9, US$1 was equivalent to ¥123.27.