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Yamazaki Baking Q1 profit climbs 37.8% YOY

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Yamazaki Baking Q1 profit climbs 37.8% YOY

Yamazaki Baking Co. Ltd. said its normalized net income for the first quarter was ¥15.35 per share, a gain of 37.8% from ¥11.14 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥3.37 billion, an increase of 37.8% from ¥2.44 billion in the year-earlier period.

The normalized profit margin increased to 1.3% from 1.0% in the year-earlier period.

Total revenue climbed year over year to ¥250.43 billion from ¥240.17 billion, and total operating expenses rose year over year to ¥244.61 billion from ¥236.00 billion.

Reported net income fell 58.9% year over year to ¥301.0 million, or ¥1.37 per share, from ¥733.0 million, or ¥3.34 per share.

As of May 13, US$1 was equivalent to ¥119.08.