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Morito fiscal Q1 profit climbs 50.5% YOY

Morito Co. Ltd. said its normalized net income for the fiscal first quarter ended Feb. 28 came to ¥9.25 per share, an increase of 50.5% from ¥6.15 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥268.1 million, a gain of 50.5% from ¥178.1 million in the year-earlier period.

The normalized profit margin climbed to 2.6% from 2.1% in the year-earlier period.

Total revenue rose 23.3% year over year to ¥10.29 billion from ¥8.35 billion, and total operating expenses grew 22.6% year over year to ¥9.93 billion from ¥8.10 billion.

Reported net income rose 30.6% from the prior-year period to ¥350.0 million, or ¥12.08 per share, from ¥268.0 million, or ¥9.25 per share.

As of April 14, US$1 was equivalent to ¥119.09.