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Hagihara Industries fiscal Q1 profit climbs 18.9% YOY

Hagihara Industries said its normalized net income for the fiscal first quarter ended Jan. 31 was ¥26.91 per share, an increase of 18.9% from ¥22.63 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥400.6 million, a gain of 18.9% from ¥336.9 million in the year-earlier period.

The normalized profit margin climbed to 6.7% from 6.1% in the year-earlier period.

Total revenue grew 7.3% year over year to ¥5.95 billion from ¥5.55 billion, and total operating expenses grew 6.4% from the prior-year period to ¥5.33 billion from ¥5.01 billion.

Reported net income increased 26.5% year over year to ¥415.0 million, or ¥27.88 per share, from ¥328.0 million, or ¥22.03 per share.

As of March 11, US$1 was equivalent to ¥121.48.