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Starzen fiscal Q1 profit climbs 49.4% YOY

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Starzen fiscal Q1 profit climbs 49.4% YOY

Starzen Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 was ¥84.86 per share, an increase of 49.4% from ¥56.81 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥678.5 million, an increase of 49.4% from ¥454.1 million in the year-earlier period.

The normalized profit margin rose to 1.0% from 0.7% in the year-earlier period.

Total revenue climbed 6.1% year over year to ¥65.56 billion from ¥61.79 billion, and total operating expenses increased 5.2% on an annual basis to ¥64.69 billion from ¥61.49 billion.

Reported net income grew 46.8% from the prior-year period to ¥687.0 million, or ¥85.92 per share, from ¥468.0 million, or ¥58.55 per share.

As of Aug. 14, US$1 was equivalent to ¥102.44.