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Koito Manufacturing fiscal Q1 profit climbs 19.6% YOY

Koito Manufacturing Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 was ¥30.09 per share, an increase of 19.6% from ¥25.16 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥4.84 billion, a gain of 19.6% from ¥4.04 billion in the prior-year period.

The normalized profit margin declined to 3.1% from 3.1% in the year-earlier period.

Total revenue grew 20.1% on an annual basis to ¥154.57 billion from ¥128.70 billion, and total operating expenses increased 18.6% from the prior-year period to ¥144.37 billion from ¥121.77 billion.

Reported net income increased 9.3% from the prior-year period to ¥5.81 billion, or ¥36.14 per share, from ¥5.32 billion, or ¥33.08 per share.

As of Aug. 1, US$1 was equivalent to ¥102.47.