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Pixelz swings to profit in Q1

Pixel Co.z Inc. said its first-quarter normalized net income amounted to ¥2.44 per share, compared with a loss of ¥2.56 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥18.8 million, compared with a loss of ¥12.5 million in the prior-year period.

The normalized profit margin increased to 0.4% from negative 0.3% in the year-earlier period.

Total revenue grew 34.3% on an annual basis to ¥5.12 billion from ¥3.81 billion, and total operating expenses climbed 32.8% on an annual basis to ¥5.08 billion from ¥3.82 billion.

Reported net income came to ¥19.3 million, or ¥2.51 per share, compared to a loss of ¥144.0 million, or a loss of ¥29.46 per share, in the prior-year period.

As of May 13, US$1 was equivalent to ¥109.14.