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Daikin Industries fiscal Q1 profit climbs 14.4% YOY

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Daikin Industries fiscal Q1 profit climbs 14.4% YOY

Daikin Industries Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥145.25 per share, a gain of 14.3% from ¥127.04 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥42.45 billion, a gain of 14.4% from ¥37.11 billion in the prior-year period.

The normalized profit margin climbed to 7.9% from 7.0% in the year-earlier period.

Total revenue increased year over year to ¥535.47 billion from ¥529.68 billion, and total operating expenses decreased year over year to ¥464.30 billion from ¥469.04 billion.

Reported net income increased 32.2% year over year to ¥49.14 billion, or ¥168.14 per share, from ¥37.17 billion, or ¥127.23 per share.

As of Aug. 10, US$1 was equivalent to ¥101.31.