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Aigan fiscal Q2 profit falls YOY

Aigan Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was ¥1.48 per share, a decrease of 53.1% from ¥3.16 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥28.8 million, a decrease of 53.1% from ¥61.3 million in the prior-year period.

The normalized profit margin dropped to 0.7% from 1.4% in the year-earlier period.

Total revenue decreased on an annual basis to ¥4.29 billion from ¥4.50 billion, and total operating expenses declined year over year to ¥4.27 billion from ¥4.43 billion.

Reported net income totaled a loss of ¥4.0 million, or a loss of 21 sen per share, compared to a loss of ¥66.0 million, or a loss of ¥3.40 per share, in the year-earlier period.

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