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Kanseki fiscal Q1 profit climbs 60.0% YOY

Kanseki Co. Ltd. said its normalized net income for the fiscal first quarter ended May 31 was ¥20.94 per share, a gain of 60.0% from ¥13.09 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥155.0 million, an increase of 60.0% from ¥96.9 million in the prior-year period.

The normalized profit margin climbed to 1.9% from 1.2% in the year-earlier period.

Total revenue rose 5.9% on an annual basis to ¥8.32 billion from ¥7.85 billion, and total operating expenses rose 5.0% year over year to ¥7.99 billion from ¥7.61 billion.

Reported net income grew 54.6% year over year to ¥167.0 million, or ¥22.56 per share, from ¥108.0 million, or ¥14.59 per share.

As of July 14, US$1 was equivalent to ¥101.58.