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Happinet fiscal Q1 profit climbs 40.8% YOY

Happinet Corp. said its normalized net income for the fiscal first quarter ended June 30 was ¥23.57 per share, an increase of 38.5% from ¥17.01 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥539.4 million, a gain of 40.8% from ¥383.1 million in the prior-year period.

The normalized profit margin climbed to 1.3% from 1.1% in the year-earlier period.

Total revenue climbed 10.7% year over year to ¥40.04 billion from ¥36.17 billion, and total operating expenses increased 10.2% on an annual basis to ¥39.21 billion from ¥35.59 billion.

Reported net income rose from the prior-year period to ¥928.3 million, or ¥40.56 per share, from ¥260.4 million, or ¥11.56 per share.

As of Aug. 12, US$1 was equivalent to ¥102.19.