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Bandai Namco Holdings fiscal Q1 profit climbs 22.4% YOY

Bandai Namco Holdings Inc. said its normalized net income for the fiscal first quarter ended June 30 came to ¥49.99 per share, an increase of 22.4% from ¥40.84 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥10.98 billion, an increase of 22.4% from ¥8.97 billion in the prior-year period.

The normalized profit margin increased to 9.0% from 8.5% in the year-earlier period.

Total revenue grew 15.7% on an annual basis to ¥122.50 billion from ¥105.87 billion, and total operating expenses increased 14.2% from the prior-year period to ¥105.66 billion from ¥92.52 billion.

Reported net income rose 22.3% from the prior-year period to ¥11.63 billion, or ¥52.94 per share, from ¥9.51 billion, or ¥43.28 per share.

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