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Saibo fiscal Q1 profit climbs YOY

SAIBO Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 was ¥17.57 per share, a gain from ¥17.01 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥234.6 million, a gain from ¥226.4 million in the year-earlier period.

The normalized profit margin increased to 10.6% from 10.6% in the year-earlier period.

Total revenue rose on an annual basis to ¥2.21 billion from ¥2.13 billion, and total operating expenses increased on an annual basis to ¥1.89 billion from ¥1.83 billion.

Reported net income grew 14.4% from the prior-year period to ¥271.0 million, or ¥20.29 per share, from ¥236.8 million, or ¥17.75 per share.

As of Aug. 10, US$1 was equivalent to ¥124.53.