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Matsuya fiscal Q1 profit climbs YOY

Matsuya Co. Ltd. said its normalized net income for the fiscal first quarter ended May 31 amounted to ¥7.25 per share, an increase from ¥3.23 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥384.1 million, an increase from ¥170.9 million in the prior-year period.

The normalized profit margin rose to 2.0% from 1.0% in the year-earlier period.

Total revenue climbed 11.0% year over year to ¥19.66 billion from ¥17.71 billion, and total operating expenses rose 9.5% from the prior-year period to ¥19.14 billion from ¥17.48 billion.

Reported net income came to ¥314.0 million, or ¥5.93 per share, compared to a loss of ¥39.0 million, or a loss of 74 sen per share, in the prior-year period.

As of July 14, US$1 was equivalent to ¥101.58.