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CSMEN Co. swings to profit in fiscal Q1

CSMEN Co. Ltd. said its normalized net income for the fiscal first quarter ended May 31 amounted to ¥14.25 per share, compared with a loss of ¥6.33 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥11.3 million, compared with a loss of ¥5.0 million in the prior-year period.

The normalized profit margin climbed to 0.6% from negative 0.3% in the year-earlier period.

Total revenue increased year over year to ¥1.75 billion from ¥1.68 billion, and total operating expenses increased year over year to ¥1.73 billion from ¥1.69 billion.

Reported net income totaled ¥1.0 million, or ¥1.27 per share, compared to a loss of ¥3.0 million, or a loss of ¥3.80 per share, in the year-earlier period.

As of July 9, US$1 was equivalent to ¥101.69.