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Tokyo Individualized Educational fiscal Q2 profit climbs 13.5% YOY

Tokyo Individualized Educational Institute Inc. said its normalized net income for the fiscal second quarter ended Aug. 31 came to ¥12.19 per share, an increase of 13.5% from ¥10.74 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥661.9 million, an increase of 13.5% from ¥583.1 million in the prior-year period.

The normalized profit margin climbed to 13.6% from 13.0% in the year-earlier period.

Total revenue climbed 8.5% on an annual basis to ¥4.86 billion from ¥4.48 billion, and total operating expenses grew 7.2% from the prior-year period to ¥3.81 billion from ¥3.55 billion.

Reported net income rose 17.5% year over year to ¥677.0 million, or ¥12.47 per share, from ¥576.0 million, or ¥10.61 per share.

As of Oct. 14, US$1 was equivalent to ¥119.23.