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Ministop fiscal Q2 profit falls YOY

Ministop Co. Ltd. said its normalized net income for the fiscal second quarter ended Aug. 31 came to ¥53.68 per share, a decline of 19.8% from ¥66.92 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.56 billion, a decrease of 19.6% from ¥1.94 billion in the year-earlier period.

The normalized profit margin fell to 3.7% from 5.1% in the year-earlier period.

Total revenue climbed 11.7% year over year to ¥42.34 billion from ¥37.89 billion, and total operating expenses increased 14.4% year over year to ¥40.10 billion from ¥35.04 billion.

Reported net income fell 10.7% from the prior-year period to ¥1.24 billion, or ¥42.60 per share, from ¥1.39 billion, or ¥47.82 per share.

As of Oct. 10, US$1 was equivalent to ¥107.98.