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Olympic Group Corp. fiscal Q2 profit falls YOY

Olympic Group Corp. said its normalized net income for the fiscal second quarter ended Aug. 31 amounted to ¥1.33 per share, a decrease of 37.5% from ¥2.13 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥30.6 million, a decline of 38.0% from ¥49.4 million in the year-earlier period.

The normalized profit margin dropped to 0.1% from 0.2% in the year-earlier period.

Total revenue increased on an annual basis to ¥26.00 billion from ¥25.61 billion, and total operating expenses climbed year over year to ¥25.87 billion from ¥25.50 billion.

Reported net income totaled a loss of ¥27.0 million, or a loss of ¥1.18 per share, compared to a loss of ¥29.0 million, or a loss of ¥1.25 per share, in the year-earlier period.

As of Oct. 14, US$1 was equivalent to ¥107.05.