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Kewpie fiscal Q1 profit climbs 60.1% YOY

Kewpie Corp. said its normalized net income for the fiscal first quarter ended Feb. 28 came to ¥20.18 per share, a gain of 57.8% from ¥12.78 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥3.06 billion, a gain of 60.1% from ¥1.91 billion in the prior-year period.

The normalized profit margin rose to 2.3% from 1.5% in the year-earlier period.

Total revenue rose year over year to ¥135.58 billion from ¥131.48 billion, and total operating expenses rose year over year to ¥130.12 billion from ¥127.92 billion.

Reported net income increased year over year to ¥5.08 billion, or ¥33.49 per share, from ¥2.05 billion, or ¥13.71 per share.

As of April 14, US$1 was equivalent to ¥119.09.