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Tokyotokeiba Q1 profit climbs YOY

Tokyotokeiba Co. Ltd. said its normalized net income for the first quarter came to ¥13.60 per share, a gain from ¥5.29 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥388.8 million, a gain from ¥151.3 million in the prior-year period.

The normalized profit margin increased to 10.5% from 4.5% in the year-earlier period.

Total revenue increased 9.3% year over year to ¥3.69 billion from ¥3.38 billion, and total operating expenses decreased year over year to ¥3.06 billion from ¥3.12 billion.

Reported net income came to ¥355.0 million, or ¥12.42 per share, compared to a loss of ¥29.0 million, or a loss of ¥1.01 per share, in the year-earlier period.

As of May 11, US$1 was equivalent to ¥119.93.