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Takizawa Ham swings to profit in fiscal Q2

Takizawa Ham Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was ¥24.35 per share, compared with a loss of ¥19.78 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥50.0 million, compared with a loss of ¥40.6 million in the prior-year period.

The normalized profit margin increased to 0.7% from negative 0.5% in the year-earlier period.

Total revenue rose year over year to ¥7.67 billion from ¥7.52 billion, and total operating expenses totaled ¥7.59 billion, compared with ¥7.59 billion in the year-earlier period.

Reported net income came to ¥49.0 million, or ¥23.86 per share, compared to a loss of ¥76.0 million, or a loss of ¥37.00 per share, in the year-earlier period.

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