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Taisei fiscal Q1 profit climbs 83.2% YOY

Taisei Corp. said its normalized net income for the fiscal first quarter ended June 30 came to ¥77.77 per share, an increase of 87.1% from ¥41.57 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥17.80 billion, an increase of 83.2% from ¥9.71 billion in the prior-year period.

The normalized profit margin increased to 5.6% from 3.3% in the year-earlier period.

Total revenue rose 7.7% year over year to ¥320.25 billion from ¥297.32 billion, and total operating expenses rose year over year to ¥293.67 billion from ¥281.25 billion.

Reported net income increased 63.3% year over year to ¥19.75 billion, or ¥86.33 per share, from ¥12.10 billion, or ¥51.76 per share.

As of Aug. 8, US$1 was equivalent to ¥110.77.