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NOK Corp. fiscal Q1 profit climbs 58.9% YOY

NOK Corp. said its normalized net income for the fiscal first quarter ended June 30 was ¥40.07 per share, a gain of 58.7% from ¥25.26 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥6.92 billion, a gain of 58.9% from ¥4.35 billion in the prior-year period.

The normalized profit margin climbed to 4.6% from 3.3% in the year-earlier period.

Total revenue rose 13.8% year over year to ¥149.00 billion from ¥130.88 billion, and total operating expenses rose 8.4% from the prior-year period to ¥137.98 billion from ¥127.31 billion.

Reported net income rose 66.3% on an annual basis to ¥7.48 billion, or ¥43.36 per share, from ¥4.50 billion, or ¥26.11 per share.

As of Aug. 8, US$1 was equivalent to ¥101.85.