Syuppin Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 was ¥9.61 per share, a gain of 60.0% from ¥6.00 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥115.0 million, an increase of 60.0% from ¥71.9 million in the prior-year period.

The normalized profit margin rose to 2.2% from 1.9% in the year-earlier period.

Total revenue increased 38.8% on an annual basis to ¥5.34 billion from ¥3.84 billion, and total operating expenses increased 38.2% on an annual basis to ¥5.15 billion from ¥3.72 billion.

Reported net income increased 66.2% year over year to ¥123.0 million, or ¥10.28 per share, from ¥74.0 million, or ¥6.18 per share.

As of Aug. 13, US$1 was equivalent to ¥124.46.