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Meiji Holdings fiscal Q1 profit climbs 16.3% YOY

Meiji Holdings Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to ¥106.87 per share, an increase of 17.5% from ¥90.92 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥15.56 billion, an increase of 16.3% from ¥13.38 billion in the prior-year period.

The normalized profit margin increased to 5.2% from 4.4% in the year-earlier period.

Total revenue came to ¥301.33 billion, compared with ¥301.07 billion in the year-earlier period, and total operating expenses came to ¥276.91 billion, compared with ¥279.03 billion in the prior-year period.

Reported net income rose from the prior-year period to ¥17.01 billion, or ¥116.80 per share, from ¥16.68 billion, or ¥113.33 per share.

As of Aug. 10, US$1 was equivalent to ¥109.48.