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Hokuryo fiscal Q2 profit climbs YOY

Hokuryo Co. Ltd. said its normalized net income for the fiscal second quarter ended Feb. 29 amounted to ¥31.17 per share, a gain from ¥14.34 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥232.5 million, a gain from ¥85.6 million in the year-earlier period.

The normalized profit margin climbed to 6.0% from 2.3% in the year-earlier period.

Total revenue rose year over year to ¥3.85 billion from ¥3.75 billion, and total operating expenses decreased year over year to ¥3.50 billion from ¥3.59 billion.

Reported net income grew year over year to ¥272.0 million, or ¥36.47 per share, from ¥87.0 million, or ¥14.57 per share.

As of April 14, US$1 was equivalent to ¥109.17.