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Harima-Kyowa fiscal Q1 profit climbs 29.2% YOY

Harima-Kyowa Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥57.45 per share, a gain of 29.2% from ¥44.45 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥300.0 million, a gain of 29.2% from ¥232.1 million in the year-earlier period.

The normalized profit margin increased to 3.0% from 2.2% in the year-earlier period.

Total revenue decreased year over year to ¥10.12 billion from ¥10.60 billion, and total operating expenses declined 5.3% year over year to ¥9.79 billion from ¥10.33 billion.

Reported net income increased 35.9% year over year to ¥284.0 million, or ¥54.39 per share, from ¥209.0 million, or ¥40.02 per share.

As of Aug. 12, US$1 was equivalent to ¥102.19.