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Meiji Holdings fiscal Q1 profit climbs YOY

Meiji Holdings Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥47.21 per share, compared with ¥46.80 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥6.95 billion, compared with ¥6.89 billion in the prior-year period.

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

Total revenue came to ¥273.68 billion, compared with ¥274.66 billion in the prior-year period, and total operating expenses came to ¥262.94 billion, compared with ¥265.27 billion in the year-earlier period.

Reported net income increased 13.0% from the prior-year period to ¥7.38 billion, or ¥50.12 per share, from ¥6.53 billion, or ¥44.34 per share.

As of Aug. 13, US$1 was equivalent to ¥102.37.