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SAN Holdings fiscal Q1 profit climbs YOY

SAN Holdings Inc. said its normalized net income for the fiscal first quarter ended June 30 was ¥55.19 per share, an increase from ¥20.36 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥310.0 million, a gain from ¥114.4 million in the prior-year period.

The normalized profit margin increased to 6.9% from 2.8% in the year-earlier period.

Total revenue rose 8.8% on an annual basis to ¥4.51 billion from ¥4.14 billion, and total operating expenses grew from the prior-year period to ¥4.01 billion from ¥3.96 billion.

Reported net income increased 25.1% year over year to ¥284.0 million, or ¥50.56 per share, from ¥227.0 million, or ¥40.42 per share.

As of Aug. 12, US$1 was equivalent to ¥102.19.