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Miyakoshi Holdings fiscal Q1 profit climbs 35.8% YOY

Miyakoshi Holdings Inc. said its normalized net income for the fiscal first quarter ended June 30 came to ¥4.82 per share, an increase of 35.8% from ¥3.55 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥74.9 million, a gain of 35.8% from ¥55.1 million in the prior-year period.

The normalized profit margin increased to 6.3% from 4.1% in the year-earlier period.

Total revenue decreased 11.6% on an annual basis to ¥1.20 billion from ¥1.35 billion, and total operating expenses decreased 19.8% on an annual basis to ¥1.05 billion from ¥1.31 billion.

Reported net income grew year over year to ¥70.0 million, or ¥4.51 per share, from ¥29.0 million, or ¥1.87 per share.

As of Aug. 8, US$1 was equivalent to ¥101.85.