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Keihin fiscal Q1 profit climbs YOY

Keihin Corp. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥41.13 per share, an increase from ¥14.89 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥3.04 billion, a gain from ¥1.10 billion in the year-earlier period.

The normalized profit margin climbed to 3.8% from 1.4% in the year-earlier period.

Total revenue totaled ¥79.80 billion, compared with ¥80.21 billion in the year-earlier period, and total operating expenses declined from the prior-year period to ¥73.65 billion from ¥77.31 billion.

Reported net income rose on an annual basis to ¥3.35 billion, or ¥45.27 per share, from ¥642.0 million, or ¥8.68 per share.

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