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Ride On Express posts fiscal Q1 profit

Ride On Express Holdings Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 was ¥135.6 million.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin was 3.5%.

Total revenue totaled ¥3.85 billion, and total operating expenses came to ¥3.63 billion.

Reported net income came to ¥164.5 million, or ¥15.36 per share.

As of Aug. 14, US$1 was equivalent to ¥124.29.