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Nextage fiscal Q1 profit climbs YOY

NETAGE Co. Ltd. said its normalized net income for the fiscal first quarter ended Feb. 28 was ¥4.15 per share, a gain from ¥1.42 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥256.9 million, an increase from ¥87.5 million in the year-earlier period.

The normalized profit margin climbed to 1.6% from 0.7% in the year-earlier period.

Total revenue grew 24.8% year over year to ¥15.76 billion from ¥12.63 billion, and total operating expenses rose 24.1% year over year to ¥15.41 billion from ¥12.42 billion.

Reported net income rose year over year to ¥253.1 million, or ¥4.09 per share, from ¥74.9 million, or ¥1.21 per share.

As of April 10, US$1 was equivalent to ¥120.22.