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Satoh & Co. fiscal Q1 profit climbs 27.4% YOY

Satoh & Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to ¥15.59 per share, a gain of 27.4% from ¥12.23 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥139.4 million, an increase of 27.4% from ¥109.4 million in the year-earlier period.

The normalized profit margin climbed to 1.2% from 1.0% in the year-earlier period.

Total revenue grew on an annual basis to ¥11.21 billion from ¥10.91 billion, and total operating expenses rose on an annual basis to ¥11.05 billion from ¥10.78 billion.

Reported net income increased 30.2% on an annual basis to ¥138.0 million, or ¥15.43 per share, from ¥106.0 million, or ¥11.86 per share.

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