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Makita fiscal Q1 profit climbs 63.5% YOY

Makita Corp. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥39.20 per share, an increase of 63.5% from ¥23.98 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥10.64 billion, a gain of 63.5% from ¥6.51 billion in the prior-year period.

The normalized profit margin increased to 10.5% from 7.2% in the year-earlier period.

Total revenue rose 12.1% year over year to ¥101.75 billion from ¥90.76 billion, and total operating expenses rose 5.1% from the prior-year period to ¥84.20 billion from ¥80.09 billion.

Reported net income grew 49.7% on an annual basis to ¥11.70 billion, or ¥43.10 per share, from ¥7.82 billion, or ¥28.79 per share.

As of Aug. 8, US$1 was equivalent to ¥101.85.