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Meiji Holdings fiscal Q2 profit climbs 111.2% YOY

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Meiji Holdings fiscal Q2 profit climbs 111.2% YOY

Meiji Holdings Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was ¥75.06 per share, a gain of 111.2% from ¥35.54 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥11.05 billion, a gain of 111.2% from ¥5.23 billion in the prior-year period.

The normalized profit margin increased to 3.7% from 1.8% in the year-earlier period.

Total revenue grew year over year to ¥299.12 billion from ¥285.55 billion, and total operating expenses increased on an annual basis to ¥282.58 billion from ¥277.31 billion.

Reported net income increased 108.7% on an annual basis to ¥10.89 billion, or ¥73.97 per share, from ¥5.22 billion, or ¥35.43 per share.

As of Nov. 12, US$1 was equivalent to ¥122.92.