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Nitori Holdings fiscal Q1 profit climbs 20.8% YOY

Nitori Holdings Co. said its normalized net income for the fiscal first quarter ended May 20 was ¥126.34 per share, a gain of 20.2% from ¥105.09 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥13.93 billion, a gain of 20.8% from ¥11.53 billion in the year-earlier period.

The normalized profit margin increased to 11.9% from 11.4% in the year-earlier period.

Total revenue grew 15.9% on an annual basis to ¥117.26 billion from ¥101.14 billion, and total operating expenses increased 15.8% on an annual basis to ¥95.28 billion from ¥82.28 billion.

Reported net income increased 20.5% from the prior-year period to ¥12.00 billion, or ¥108.82 per share, from ¥9.96 billion, or ¥90.72 per share.

As of July 3, US$1 was equivalent to ¥102.19.