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Fukoku Co. fiscal Q1 profit climbs 33.2% YOY

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Fukoku Co. fiscal Q1 profit climbs 33.2% YOY

Fukoku Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥41.91 per share, an increase of 33.1% from ¥31.48 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥721.4 million, a gain of 33.2% from ¥541.8 million in the year-earlier period.

The normalized profit margin rose to 4.2% from 3.6% in the year-earlier period.

Total revenue rose 14.3% on an annual basis to ¥17.27 billion from ¥15.12 billion, and total operating expenses climbed 11.9% year over year to ¥16.03 billion from ¥14.33 billion.

Reported net income increased 76.6% from the prior-year period to ¥806.7 million, or ¥46.86 per share, from ¥456.9 million, or ¥26.51 per share.

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