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Yamatane fiscal Q1 profit climbs 15.3% YOY

Yamatane Corp. said its normalized net income for the fiscal first quarter ended June 30 came to ¥41.07 per share, a gain of 15.3% from ¥35.63 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥436.5 million, a gain of 15.3% from ¥378.6 million in the prior-year period.

The normalized profit margin increased to 3.4% from 2.6% in the year-earlier period.

Total revenue fell 9.4% on an annual basis to ¥13.02 billion from ¥14.36 billion, and total operating expenses fell 10.4% on an annual basis to ¥12.04 billion from ¥13.45 billion.

Reported net income increased 23.7% year over year to ¥413.0 million, or ¥38.86 per share, from ¥334.0 million, or ¥31.43 per share.

As of Aug. 11, US$1 was equivalent to ¥102.12.