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Kikkoman fiscal Q1 profit climbs 40.2% YOY

Kikkoman Corp. said its normalized net income for the fiscal first quarter ended June 30 was ¥19.49 per share, an increase of 40.8% from ¥13.85 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥3.88 billion, a gain of 40.2% from ¥2.77 billion in the year-earlier period.

The normalized profit margin rose to 4.4% from 3.3% in the year-earlier period.

Total revenue grew year over year to ¥87.79 billion from ¥83.98 billion, and total operating expenses rose 6.0% year over year to ¥82.11 billion from ¥77.48 billion.

Reported net income decreased 5.6% year over year to ¥3.80 billion, or ¥19.07 per share, from ¥4.02 billion, or ¥20.12 per share.

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