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Riso Kyoiku fiscal Q2 profit climbs YOY

Riso Kyoiku Co. Ltd. said its normalized net income for the fiscal second quarter ended Aug. 31 came to ¥10.23 per share, an increase from ¥4.47 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥505.6 million, an increase from ¥201.9 million in the year-earlier period.

The normalized profit margin rose to 9.3% from 3.6% in the year-earlier period.

Total revenue fell year over year to ¥5.46 billion from ¥5.64 billion, and total operating expenses decreased 12.7% on an annual basis to ¥4.63 billion from ¥5.30 billion.

Reported net income increased 49.0% on an annual basis to ¥1.61 billion, or ¥32.60 per share, from ¥1.08 billion, or ¥2.54 per share.

As of Oct. 15, US$1 was equivalent to ¥106.21.