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Aisin Seiki fiscal Q1 profit climbs 40.2% YOY

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Aisin Seiki fiscal Q1 profit climbs 40.2% YOY

Aisin Seiki Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to ¥90.07 per share, an increase of 37.5% from ¥65.52 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥26.07 billion, a gain of 40.2% from ¥18.59 billion in the year-earlier period.

The normalized profit margin rose to 3.1% from 2.4% in the year-earlier period.

Total revenue grew 8.7% year over year to ¥838.70 billion from ¥771.75 billion, and total operating expenses grew 5.7% from the prior-year period to ¥779.67 billion from ¥737.87 billion.

Reported net income increased 87.0% from the prior-year period to ¥41.78 billion, or ¥144.36 per share, from ¥22.34 billion, or ¥78.75 per share.

As of Aug. 10, US$1 was equivalent to ¥101.31.