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USS Co. fiscal Q1 profit climbs YOY

USS Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥19.55 per share, an increase from ¥19.26 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥5.06 billion, an increase from ¥5.00 billion in the prior-year period.

The normalized profit margin rose to 31.1% from 30.5% in the year-earlier period.

Total revenue came to ¥16.28 billion, compared with ¥16.40 billion in the prior-year period, and total operating expenses decreased from the prior-year period to ¥8.23 billion from ¥8.43 billion.

Reported net income increased 6.0% on an annual basis to ¥5.24 billion, or ¥20.25 per share, from ¥4.95 billion, or ¥19.05 per share.

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