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Imperial Hotel fiscal Q1 profit climbs 6.8% YOY

Imperial Hotel Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to ¥12.44 per share, an increase of 6.8% from ¥11.65 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥738.1 million, an increase of 6.8% from ¥691.3 million in the year-earlier period.

The normalized profit margin rose to 5.6% from 5.3% in the year-earlier period.

Total revenue rose on an annual basis to ¥13.24 billion from ¥13.05 billion, and total operating expenses came to ¥12.12 billion, compared with ¥12.03 billion in the year-earlier period.

Reported net income rose 10.8% from the prior-year period to ¥759.0 million, or ¥12.79 per share, from ¥685.0 million, or ¥11.55 per share.

As of Aug. 8, US$1 was equivalent to ¥101.85.