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Kintetsu Department Store fiscal Q1 profit climbs 70.1% YOY

Kintetsu Department Store Co. Ltd. said its normalized net income for the fiscal first quarter ended May 31 came to ¥11.61 per share, an increase of 70.1% from ¥6.83 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥468.8 million, an increase of 70.1% from ¥275.6 million in the prior-year period.

The normalized profit margin rose to 0.6% from 0.4% in the year-earlier period.

Total revenue increased 11.7% on an annual basis to ¥73.04 billion from ¥65.40 billion, and total operating expenses climbed 10.9% on an annual basis to ¥71.78 billion from ¥64.71 billion.

Reported net income increased 37.1% year over year to ¥399.0 million, or ¥9.88 per share, from ¥291.0 million, or ¥7.21 per share.

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