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Saftec fiscal Q2 profit falls YOY

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Saftec fiscal Q2 profit falls YOY

Saftec Co.Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was ¥73.86 per share, a decline from ¥76.34 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥36.9 million, a decrease from ¥38.1 million in the year-earlier period.

The normalized profit margin dropped to 1.9% from 1.9% in the year-earlier period.

Total revenue stayed flat year over year at ¥1.96 billion, and total operating expenses totaled ¥1.90 billion, compared with ¥1.89 billion in the year-earlier period.

Reported net income declined 61.1% on an annual basis to ¥35.0 million, or ¥70.10 per share, from ¥90.0 million, or ¥180.22 per share.

As of Nov. 9, US$1 was equivalent to ¥123.27.