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Koito Manufacturing fiscal Q2 profit climbs 20.4% YOY

Koito Manufacturing Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to ¥91.34 per share, an increase of 20.4% from ¥75.87 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥14.69 billion, an increase of 20.4% from ¥12.20 billion in the year-earlier period.

The normalized profit margin climbed to 6.5% from 6.2% in the year-earlier period.

Total revenue rose 15.3% year over year to ¥226.33 billion from ¥196.31 billion, and total operating expenses increased 15.0% from the prior-year period to ¥199.93 billion from ¥173.86 billion.

Reported net income rose 12.6% on an annual basis to ¥14.56 billion, or ¥90.53 per share, from ¥12.93 billion, or ¥80.41 per share.

As of Nov. 2, US$1 was equivalent to ¥113.81.