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Meiji Holdings fiscal Q1 profit climbs 24.9% YOY

Meiji Holdings Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to ¥90.92 per share, a gain of 25.0% from ¥72.76 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥13.38 billion, a gain of 24.9% from ¥10.71 billion in the prior-year period.

The normalized profit margin increased to 4.4% from 3.7% in the year-earlier period.

Total revenue increased on an annual basis to ¥301.07 billion from ¥293.19 billion, and total operating expenses totaled ¥279.03 billion, compared with ¥276.32 billion in the prior-year period.

Reported net income declined 25.0% from the prior-year period to ¥16.68 billion, or ¥113.33 per share, from ¥22.24 billion, or ¥151.05 per share.

As of Aug. 9, US$1 was equivalent to ¥101.89.