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Daiichi fiscal Q1 profit climbs 38.0% YOY

Daiichi Co. Ltd. said its normalized net income for the fiscal first quarter ended Dec. 31, 2014, amounted to ¥44.85 per share, an increase of 38.0% from ¥32.49 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥256.3 million, an increase of 38.0% from ¥185.6 million in the prior-year period.

The normalized profit margin increased to 2.7% from 2.1% in the year-earlier period.

Total revenue grew 6.5% year over year to ¥9.57 billion from ¥8.99 billion, and total operating expenses climbed 5.4% year over year to ¥9.15 billion from ¥8.68 billion.

Reported net income increased 31.9% on an annual basis to ¥269.0 million, or ¥47.08 per share, from ¥204.0 million, or ¥35.71 per share.

As of Feb. 12, US$1 was equivalent to ¥118.90.