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Yachiyo Industry fiscal Q1 profit climbs 27.2% YOY

Yachiyo Industry Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to ¥39.62 per share, a gain of 27.2% from ¥31.14 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥951.4 million, a gain of 27.2% from ¥747.8 million in the prior-year period.

The normalized profit margin increased to 1.6% from 1.2% in the year-earlier period.

Total revenue declined year over year to ¥58.72 billion from ¥60.79 billion, and total operating expenses declined from the prior-year period to ¥56.66 billion from ¥59.05 billion.

Reported net income grew 37.2% year over year to ¥841.0 million, or ¥35.02 per share, from ¥613.0 million, or ¥25.53 per share.

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