Japan Tobacco Inc. said its first-quarter normalized net income was ¥49.70 per share, an increase from ¥47.67 per share in the first quarter ended June 30, 2013.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥89.97 billion, a gain from ¥86.69 billion in the first quarter ended June 30, 2013.
The normalized profit margin rose to 16.2% from 15.8% in the year-earlier period.
Total revenue increased year over year to ¥554.89 billion from ¥547.94 billion, and total operating expenses rose year over year to ¥412.39 billion from ¥401.73 billion.
Reported net income increased 6.2% from the prior-year period to ¥104.20 billion, or ¥57.56 per share, from ¥98.10 billion, or ¥53.95 per share.
As of May 1, US$1 was equivalent to ¥120.11.
