Fuji Co. Ltd. said its normalized net income for the fiscal first quarter ended May 31 was ¥25.73 per share, a gain of 20.4% from ¥21.36 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥907.6 million, an increase of 20.4% from ¥753.8 million in the prior-year period.

The normalized profit margin climbed to 1.2% from 1.0% in the year-earlier period.

Total revenue rose year over year to ¥77.88 billion from ¥76.96 billion, and total operating expenses totaled ¥76.61 billion, compared with ¥76.06 billion in the prior-year period.

Reported net income increased 29.3% year over year to ¥866.0 million, or ¥24.55 per share, from ¥670.0 million, or ¥18.99 per share.

As of July 14, US$1 was equivalent to ¥101.58.