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Ajinomoto fiscal Q1 profit climbs 15.8% YOY

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Ajinomoto fiscal Q1 profit climbs 15.8% YOY

Ajinomoto Co. Inc. said its normalized net income for the fiscal first quarter ended June 30 came to ¥24.08 per share, an increase of 17.6% from ¥20.49 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥13.71 billion, an increase of 15.8% from ¥11.84 billion in the prior-year period.

The normalized profit margin increased to 5.0% from 4.5% in the year-earlier period.

Total revenue rose year over year to ¥267.75 billion from ¥262.92 billion, and total operating expenses came to ¥244.22 billion, compared with ¥242.37 billion in the prior-year period.

Reported net income increased 16.6% year over year to ¥16.06 billion, or ¥28.22 per share, from ¥13.78 billion, or ¥23.85 per share.

As of Aug. 10, US$1 was equivalent to ¥109.48.