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Omikenshi swings to profit in fiscal Q1

Omikenshi Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 10 Japanese sen per share, compared with a loss of 17 sen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥13.1 million, compared with a loss of ¥22.0 million in the prior-year period.

The normalized profit margin rose to 0.4% from negative 0.6% in the year-earlier period.

Total revenue rose 5.5% year over year to ¥3.69 billion from ¥3.50 billion, and total operating expenses grew from the prior-year period to ¥3.60 billion from ¥3.45 billion.

Reported net income rose 20.2% on an annual basis to ¥137.0 million, or ¥1.06 per share, from ¥114.0 million, or 88 sen per share.

As of Aug. 11, US$1 was equivalent to ¥102.12.