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Daikokuten Bussan fiscal Q1 profit climbs 17.0% YOY

Daikokuten Bussan Co. Ltd. said its normalized net income for the fiscal first quarter ended Aug. 31 came to ¥55.15 per share, an increase of 16.9% from ¥47.19 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥773.4 million, a gain of 17.0% from ¥661.1 million in the year-earlier period.

The normalized profit margin increased to 2.3% from 2.1% in the year-earlier period.

Total revenue increased 7.0% on an annual basis to ¥33.29 billion from ¥31.10 billion, and total operating expenses rose 6.7% on an annual basis to ¥32.05 billion from ¥30.04 billion.

Reported net income increased 21.8% year over year to ¥692.0 million, or ¥49.34 per share, from ¥568.0 million, or ¥40.54 per share.

As of Oct. 15, US$1 was equivalent to ¥106.21.