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Nippon Suisan Kaisha fiscal Q1 profit climbs 46.8% YOY

Nippon Suisan Kaisha Ltd. said its normalized net income for the fiscal first quarter ended June 30 was ¥11.25 per share, an increase of 46.8% from ¥7.67 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥3.11 billion, an increase of 46.8% from ¥2.12 billion in the year-earlier period.

The normalized profit margin climbed to 2.0% from 1.5% in the year-earlier period.

Total revenue climbed 6.5% on an annual basis to ¥151.66 billion from ¥142.43 billion, and total operating expenses increased on an annual basis to ¥146.57 billion from ¥139.78 billion.

Reported net income declined 7.4% year over year to ¥2.50 billion, or ¥9.03 per share, from ¥2.69 billion, or ¥9.75 per share.

As of Aug. 13, US$1 was equivalent to ¥102.37.