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Joshin Denki fiscal Q1 profit climbs 71.7% YOY

Joshin Denki Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥11.49 per share, an increase of 70.1% from ¥6.76 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥303.8 million, a gain of 71.7% from ¥176.9 million in the prior-year period.

The normalized profit margin climbed to 0.4% from 0.2% in the year-earlier period.

Total revenue came to ¥85.67 billion, compared with ¥85.05 billion in the prior-year period, and total operating expenses totaled ¥85.15 billion, compared with ¥84.75 billion in the prior-year period.

Reported net income increased year over year to ¥212.6 million, or ¥8.04 per share, from ¥202.6 million, or ¥7.74 per share.

As of Aug. 12, US$1 was equivalent to ¥102.19.