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Cota fiscal Q1 profit climbs YOY

Cota Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥2.44 per share, a gain from 74 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥38.8 million, a gain from ¥12.5 million in the prior-year period.

The normalized profit margin climbed to 3.4% from 1.1% in the year-earlier period.

Total revenue decreased year over year to ¥1.15 billion from ¥1.19 billion, and total operating expenses decreased 6.9% on an annual basis to ¥1.09 billion from ¥1.17 billion.

Reported net income rose on an annual basis to ¥37.0 million, or ¥2.33 per share, from ¥8.0 million, or 47 sen per share.

As of Aug. 5, US$1 was equivalent to ¥124.99.