J. Front Retailing Co. Ltd. said its normalized net income for the fiscal first quarter ended May 31 came to ¥22.18 per share, an increase of 26.8% from ¥17.50 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥5.85 billion, an increase of 26.7% from ¥4.62 billion in the prior-year period.

The normalized profit margin rose to 2.1% from 1.7% in the year-earlier period.

Total revenue grew on an annual basis to ¥285.32 billion from ¥275.29 billion, and total operating expenses climbed from the prior-year period to ¥274.87 billion from ¥266.49 billion.

Reported net income declined 72.9% from the prior-year period to ¥4.92 billion, or ¥18.66 per share, from ¥18.14 billion, or ¥68.70 per share.

As of July 11, US$1 was equivalent to ¥101.30.