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First-Corp fiscal Q1 profit climbs 93.2% YOY

First-Corp. Inc. said its normalized net income for the fiscal first quarter ended Aug. 31 amounted to ¥69.31 per share, a gain of 55.7% from ¥44.50 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥213.1 million, an increase of 93.2% from ¥110.3 million in the prior-year period.

The normalized profit margin rose to 6.1% from 2.8% in the year-earlier period.

Total revenue fell 12.7% year over year to ¥3.50 billion from ¥4.00 billion, and total operating expenses decreased 17.6% on an annual basis to ¥3.15 billion from ¥3.82 billion.

Reported net income rose year over year to ¥225.0 million, or ¥73.17 per share, from ¥110.0 million, or ¥44.38 per share.

As of Oct. 9, US$1 was equivalent to ¥120.33.