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Top Culture fiscal Q1 profit climbs YOY

Top Culture Co. Ltd. said its normalized net income for the fiscal first quarter ended Jan. 31 came to ¥13.31 per share, an increase from ¥5.54 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥161.1 million, an increase from ¥66.9 million in the year-earlier period.

The normalized profit margin increased to 1.8% from 0.7% in the year-earlier period.

Total revenue declined year over year to ¥8.96 billion from ¥9.10 billion, and total operating expenses declined year over year to ¥8.68 billion from ¥8.97 billion.

Reported net income rose on an annual basis to ¥155.7 million, or ¥12.86 per share, from ¥46.0 million, or ¥3.75 per share.

As of March 16, US$1 was equivalent to ¥121.30.