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Seiren fiscal Q1 profit climbs 41.4% YOY

Seiren Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to ¥17.81 per share, a gain of 40.7% from ¥12.65 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.06 billion, an increase of 41.4% from ¥752.3 million in the year-earlier period.

The normalized profit margin increased to 4.3% from 3.3% in the year-earlier period.

Total revenue grew 8.5% year over year to ¥24.79 billion from ¥22.86 billion, and total operating expenses climbed 6.5% on an annual basis to ¥23.23 billion from ¥21.82 billion.

Reported net income rose 61.1% from the prior-year period to ¥1.07 billion, or ¥17.88 per share, from ¥663.0 million, or ¥11.15 per share.

As of Aug. 12, US$1 was equivalent to ¥102.19.