Iwatsuka Confectionery Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥167.18 per share, an increase of 23.8% from ¥135.09 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥960.6 million, a gain of 23.8% from ¥776.3 million in the year-earlier period.

The normalized profit margin climbed to 18.3% from 16.1% in the year-earlier period.

Total revenue rose 8.9% year over year to ¥5.25 billion from ¥4.82 billion, and total operating expenses increased 6.7% on an annual basis to ¥5.14 billion from ¥4.82 billion.

Reported net income rose 24.6% on an annual basis to ¥943.0 million, or ¥164.11 per share, from ¥757.0 million, or ¥131.74 per share.

As of Aug. 13, US$1 was equivalent to ¥102.37.