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Ohashi Technica fiscal Q1 profit climbs 39.3% YOY

Ohashi Technica Inc. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥40.59 per share, an increase of 40.2% from ¥28.94 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥637.9 million, an increase of 39.3% from ¥457.9 million in the year-earlier period.

The normalized profit margin increased to 6.5% from 4.9% in the year-earlier period.

Total revenue climbed on an annual basis to ¥9.86 billion from ¥9.43 billion, and total operating expenses grew on an annual basis to ¥8.84 billion from ¥8.70 billion.

Reported net income grew 56.4% on an annual basis to ¥716.9 million, or ¥45.62 per share, from ¥458.3 million, or ¥28.97 per share.

As of Aug. 8, US$1 was equivalent to ¥101.85.