Sekisui House Ltd. said its normalized net income for the fiscal first quarter ended April 30 came to ¥31.86 per share, a gain from ¥14.91 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥23.02 billion, an increase from ¥10.77 billion in the prior-year period.

The normalized profit margin climbed to 5.1% from 3.0% in the year-earlier period.

Total revenue increased 26.2% year over year to ¥451.53 billion from ¥357.68 billion, and total operating expenses climbed 21.4% on an annual basis to ¥415.20 billion from ¥341.91 billion.

Reported net income grew on an annual basis to ¥21.12 billion, or ¥29.23 per share, from ¥10.40 billion, or ¥14.40 per share.

As of June 11, US$1 was equivalent to ¥101.93.