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Pigeon Corp. fiscal Q2 profit climbs 11.9% YOY

Pigeon Corp. said its normalized net income for the fiscal second quarter ended July 31 came to ¥16.83 per share, an increase of 12.2% from ¥15.00 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥2.02 billion, an increase of 11.9% from ¥1.80 billion in the year-earlier period.

The normalized profit margin rose to 9.9% from 9.1% in the year-earlier period.

Total revenue increased year over year to ¥20.37 billion from ¥19.73 billion, and total operating expenses rose year over year to ¥17.07 billion from ¥16.83 billion.

Reported net income rose 28.4% on an annual basis to ¥2.30 billion, or ¥19.22 per share, from ¥1.79 billion, or ¥14.93 per share.

As of Sept. 5, US$1 was equivalent to ¥104.89.