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Daikin Industries fiscal Q1 profit climbs 30.6% YOY

Daikin Industries Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to ¥107.71 per share, an increase of 30.3% from ¥82.66 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥31.47 billion, an increase of 30.6% from ¥24.10 billion in the year-earlier period.

The normalized profit margin rose to 6.4% from 5.2% in the year-earlier period.

Total revenue climbed 6.3% year over year to ¥489.38 billion from ¥460.39 billion, and total operating expenses grew from the prior-year period to ¥435.26 billion from ¥420.01 billion.

Reported net income increased 34.3% year over year to ¥35.67 billion, or ¥122.10 per share, from ¥26.56 billion, or ¥91.13 per share.

As of Aug. 7, US$1 was equivalent to ¥102.16.