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Joyfull Q1 profit climbs YOY

Joyfull Co. Ltd. said its normalized net income for the first quarter amounted to ¥12.48 per share, compared with ¥12.41 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥366.9 million, compared with ¥365.0 million in the prior-year period.

The normalized profit margin declined to 2.4% from 2.5% in the year-earlier period.

Total revenue climbed 5.6% year over year to ¥15.24 billion from ¥14.43 billion, and total operating expenses rose 5.7% on an annual basis to ¥14.66 billion from ¥13.87 billion.

Reported net income decreased 14.3% on an annual basis to ¥276.0 million, or ¥9.39 per share, from ¥322.0 million, or ¥10.95 per share.

As of May 11, US$1 was equivalent to ¥119.93.