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Shokubun swings to profit in fiscal Q1

Shokubun Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 was ¥1.64 per share, compared with a loss of 58 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥19.4 million, compared with a loss of ¥6.9 million in the year-earlier period.

The normalized profit margin increased to 0.9% from negative 0.3% in the year-earlier period.

Total revenue rose on an annual basis to ¥2.26 billion from ¥2.24 billion, and total operating expenses came to ¥2.21 billion, compared with ¥2.22 billion in the year-earlier period.

Reported net income decreased 88.4% year over year to ¥13.0 million, or ¥1.10 per share, from ¥112.0 million, or ¥9.45 per share.

As of Aug. 7, US$1 was equivalent to ¥102.16.