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Sanyei fiscal Q2 profit climbs YOY

Sanyei Corp. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to ¥67.95 per share, a gain from ¥32.06 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥168.4 million, an increase from ¥77.1 million in the prior-year period.

The normalized profit margin rose to 1.6% from 0.8% in the year-earlier period.

Total revenue grew 9.4% year over year to ¥10.67 billion from ¥9.75 billion, and total operating expenses climbed 8.4% from the prior-year period to ¥10.43 billion from ¥9.62 billion.

Reported net income decreased 9.5% on an annual basis to ¥155.0 million, or ¥62.54 per share, from ¥171.2 million, or ¥71.18 per share.

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