Tobila Systems lifts sales, but profit still slips
Tobila Systems is still finding demand, just not leverage. First-half non-consolidated revenue rose 22.0% to JPY 1.674bn, helped by security and solution sales, but operating profit fell 7.7% to JPY 485m and net profit slipped 5.1% to JPY 335m; management kept the full-year outlook and its JPY 20 year-end dividend plan unchanged. More anti-fraud spending is useful. Turning it into more earnings would be nicer.