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Makita fiscal Q2 profit falls YOY

Makita Corp. said its normalized net income for the fiscal second quarter ended Sept. 30 came to ¥36.87 per share, a decline of 18.6% from ¥45.28 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥10.01 billion, a decrease of 18.6% from ¥12.29 billion in the prior-year period.

The normalized profit margin fell to 9.1% from 11.6% in the year-earlier period.

Total revenue grew year over year to ¥109.61 billion from ¥105.89 billion, and total operating expenses climbed 8.1% year over year to ¥92.41 billion from ¥85.46 billion.

Reported net income declined 23.3% on an annual basis to ¥10.59 billion, or ¥39.00 per share, from ¥13.80 billion, or ¥50.85 per share.

As of Nov. 10, US$1 was equivalent to ¥123.26.