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Sato Foods Industries fiscal Q1 profit climbs 16.8% YOY

Sato Foods Industries Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 was ¥18.81 per share, a gain of 16.8% from ¥16.11 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥117.5 million, a gain of 16.8% from ¥100.6 million in the prior-year period.

The normalized profit margin rose to 8.9% from 7.9% in the year-earlier period.

Total revenue grew on an annual basis to ¥1.31 billion from ¥1.28 billion, and total operating expenses totaled ¥1.16 billion, compared with ¥1.15 billion in the prior-year period.

Reported net income grew 53.6% on an annual basis to ¥43.0 million, or ¥6.88 per share, from ¥28.0 million, or ¥4.48 per share.

As of Aug. 7, US$1 was equivalent to ¥124.28.