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Shinobu Foods Products fiscal Q1 profit climbs YOY

Shinobu Foods Products Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥18.25 per share, a gain from ¥7.44 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥247.1 million, an increase from ¥107.5 million in the year-earlier period.

The normalized profit margin climbed to 2.4% from 1.1% in the year-earlier period.

Total revenue climbed 10.4% year over year to ¥10.37 billion from ¥9.39 billion, and total operating expenses grew 8.2% from the prior-year period to ¥9.98 billion from ¥9.22 billion.

Reported net income grew year over year to ¥249.0 million, or ¥18.39 per share, from ¥103.0 million, or ¥7.13 per share.

As of Aug. 7, US$1 was equivalent to ¥102.16.