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Ozu Corp. fiscal Q1 profit climbs 45.2% YOY

Ozu Corp. said its normalized net income for the fiscal first quarter ended Aug. 31 amounted to ¥14.64 per share, a gain of 45.2% from ¥10.09 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥122.5 million, a gain of 45.2% from ¥84.4 million in the prior-year period.

The normalized profit margin rose to 1.2% from 0.8% in the year-earlier period.

Total revenue fell year over year to ¥9.88 billion from ¥10.12 billion, and total operating expenses declined from the prior-year period to ¥9.71 billion from ¥9.99 billion.

Reported net income rose 77.9% on an annual basis to ¥121.0 million, or ¥14.47 per share, from ¥68.0 million, or ¥8.13 per share.

As of Oct. 15, US$1 was equivalent to ¥106.21.