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NGK Spark Plug fiscal Q1 profit climbs 30.1% YOY

NGK Spark Plug Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 was ¥44.35 per share, a gain of 30.1% from ¥34.08 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥9.65 billion, an increase of 30.1% from ¥7.42 billion in the prior-year period.

The normalized profit margin climbed to 11.4% from 9.0% in the year-earlier period.

Total revenue rose on an annual basis to ¥84.57 billion from ¥82.21 billion, and total operating expenses fell year over year to ¥69.56 billion from ¥71.46 billion.

Reported net income increased 40.1% on an annual basis to ¥10.12 billion, or ¥46.49 per share, from ¥7.22 billion, or ¥33.18 per share.

As of Aug. 12, US$1 was equivalent to ¥102.19.