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Sanyo Department Store fiscal Q1 profit climbs 51.9% YOY

Sanyo Department Store Co. said its normalized net income for the fiscal first quarter ended May 31 came to ¥95.74 per share, an increase of 51.9% from ¥63.04 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥76.9 million, a gain of 51.9% from ¥50.6 million in the prior-year period.

The normalized profit margin climbed to 1.5% from 1.0% in the year-earlier period.

Total revenue totaled ¥5.02 billion, compared with ¥4.99 billion in the year-earlier period, and total operating expenses totaled ¥4.92 billion, compared with ¥4.93 billion in the prior-year period.

Reported net income grew 48.0% year over year to ¥74.0 million, or ¥92.16 per share, from ¥50.0 million, or ¥62.26 per share.

As of July 11, US$1 was equivalent to ¥101.30.