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Daito Gyorui fiscal Q1 profit climbs YOY

Daito Gyorui Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 was ¥65.69 per share, a gain from ¥28.30 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥206.9 million, a gain from ¥89.1 million in the year-earlier period.

The normalized profit margin climbed to 0.7% from 0.3% in the year-earlier period.

Total revenue decreased 8.0% year over year to ¥27.84 billion from ¥30.27 billion, and total operating expenses decreased 8.6% from the prior-year period to ¥27.52 billion from ¥30.12 billion.

Reported net income increased from the prior-year period to ¥302.0 million, or ¥95.90 per share, from ¥150.0 million, or ¥47.63 per share.

As of Aug. 11, US$1 was equivalent to ¥102.12.