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Izutsuya fiscal Q2 profit falls YOY

Izutsuya Co. Ltd. said its normalized net income for the fiscal second quarter ended Aug. 31 amounted to ¥1.64 per share, a decline of 91.8% from ¥19.91 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥18.8 million, a decrease of 91.8% from ¥228.1 million in the year-earlier period.

The normalized profit margin dropped to 0.1% from 1.1% in the year-earlier period.

Total revenue declined year over year to ¥20.30 billion from ¥21.19 billion, and total operating expenses declined from the prior-year period to ¥20.04 billion from ¥20.75 billion.

Reported net income declined 93.1% on an annual basis to ¥24.0 million, or ¥2.09 per share, from ¥349.0 million, or ¥30.45 per share.

As of Oct. 6, US$1 was equivalent to ¥109.17.