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Makita fiscal Q2 profit climbs 29.6% YOY

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Makita fiscal Q2 profit climbs 29.6% YOY

Makita Corp. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to ¥45.28 per share, a gain of 29.6% from ¥34.95 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥12.29 billion, an increase of 29.6% from ¥9.49 billion in the year-earlier period.

The normalized profit margin rose to 11.6% from 10.0% in the year-earlier period.

Total revenue increased 11.3% year over year to ¥105.89 billion from ¥95.13 billion, and total operating expenses rose 6.7% on an annual basis to ¥85.46 billion from ¥80.08 billion.

Reported net income increased 22.3% on an annual basis to ¥13.80 billion, or ¥50.85 per share, from ¥11.29 billion, or ¥41.58 per share.

As of Nov. 10, US$1 was equivalent to ¥114.66.