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Jason Co. fiscal Q1 profit climbs 44.7% YOY

Jason Co. said its normalized net income for the fiscal first quarter ended May 31 amounted to ¥10.59 per share, an increase of 44.7% from ¥7.32 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥135.6 million, a gain of 44.7% from ¥93.8 million in the prior-year period.

The normalized profit margin increased to 2.5% from 1.9% in the year-earlier period.

Total revenue grew 6.7% on an annual basis to ¥5.37 billion from ¥5.03 billion, and total operating expenses increased 5.6% year over year to ¥5.16 billion from ¥4.89 billion.

Reported net income increased 42.2% from the prior-year period to ¥118.0 million, or ¥9.21 per share, from ¥83.0 million, or ¥6.48 per share.

As of July 15, US$1 was equivalent to ¥101.70.