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Takizawa Ham swings to profit in fiscal Q1

Takizawa Ham Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to ¥27.08 per share, compared with a loss of ¥23.74 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥55.6 million, compared with a loss of ¥48.8 million in the prior-year period.

The normalized profit margin rose to 0.8% from negative 0.7% in the year-earlier period.

Total revenue increased year over year to ¥7.32 billion from ¥7.23 billion, and total operating expenses decreased year over year to ¥7.25 billion from ¥7.34 billion.

Reported net income totaled ¥77.0 million, or ¥37.49 per share, compared to a loss of ¥108.0 million, or a loss of ¥52.59 per share, in the year-earlier period.

As of Aug. 12, US$1 was equivalent to ¥102.19.