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Tokyotokeiba Q1 profit climbs 9.2% YOY

Tokyotokeiba Co. Ltd. said its first-quarter normalized net income was ¥14.85 per share, a gain of 9.2% from ¥13.60 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥424.4 million, a gain of 9.2% from ¥388.8 million in the year-earlier period.

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

Total revenue climbed 9.0% on an annual basis to ¥4.03 billion from ¥3.69 billion, and total operating expenses rose 9.2% from the prior-year period to ¥3.34 billion from ¥3.06 billion.

Reported net income grew 26.8% from the prior-year period to ¥450.0 million, or ¥15.75 per share, from ¥355.0 million, or ¥12.42 per share.

As of May 11, US$1 was equivalent to ¥108.60.