Shinyei Kaisha said its normalized net income for the fiscal first quarter ended June 30 was ¥35.99 per share, an increase from ¥8.62 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥135.6 million, an increase from ¥32.5 million in the prior-year period.

The normalized profit margin increased to 1.3% from 0.3% in the year-earlier period.

Total revenue totaled ¥10.75 billion, compared with ¥10.67 billion in the prior-year period, and total operating expenses decreased year over year to ¥10.49 billion from ¥10.61 billion.

Reported net income grew 29.3% from the prior-year period to ¥194.0 million, or ¥51.49 per share, from ¥150.0 million, or ¥39.81 per share.

As of Aug. 5, US$1 was equivalent to ¥102.85.