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Kappa-Create fiscal Q1 profit climbs YOY

Kappa-Create Co. Ltd. said its normalized net income for the fiscal first quarter ended May 31 was ¥6.53 per share, a gain from 58 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 ¥261.3 million, a gain from ¥22.5 million in the year-earlier period.

The normalized profit margin increased to 1.1% from 0.1% in the year-earlier period.

Total revenue decreased on an annual basis to ¥23.37 billion from ¥24.15 billion, and total operating expenses fell 5.0% from the prior-year period to ¥22.89 billion from ¥24.09 billion.

Reported net income totaled ¥140.0 million, or ¥3.50 per share, compared to a loss of ¥126.0 million, or a loss of ¥3.24 per share, in the prior-year period.

As of July 15, US$1 was equivalent to ¥101.70.