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Asaka Industrial fiscal Q1 profit climbs YOY

Asaka Industrial Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥18.85 per share, a gain from ¥5.85 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥18.1 million, an increase from ¥5.6 million in the prior-year period.

The normalized profit margin rose to 0.8% from 0.3% in the year-earlier period.

Total revenue grew 6.6% on an annual basis to ¥2.22 billion from ¥2.08 billion, and total operating expenses rose 5.7% on an annual basis to ¥2.19 billion from ¥2.08 billion.

Reported net income rose from the prior-year period to ¥17.0 million, or ¥17.68 per share, from ¥5.0 million, or ¥5.20 per share.

As of Aug. 11, US$1 was equivalent to ¥102.12.