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Arcland Sakamoto fiscal Q2 profit falls YOY

Arcland Sakamoto Co. Ltd. said its normalized net income for the fiscal second quarter ended Aug. 20 amounted to ¥31.35 per share, a decrease of 20.0% from ¥39.16 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.27 billion, a decrease of 20.0% from ¥1.59 billion in the prior-year period.

The normalized profit margin declined to 5.1% from 6.2% in the year-earlier period.

Total revenue declined on an annual basis to ¥25.00 billion from ¥25.50 billion, and total operating expenses totaled ¥22.89 billion, compared with ¥23.01 billion in the prior-year period.

Reported net income increased 87.8% year over year to ¥2.82 billion, or ¥69.58 per share, from ¥1.50 billion, or ¥37.06 per share.

As of Sept. 26, US$1 was equivalent to ¥109.20.