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Hiday Hidaka fiscal Q1 profit climbs YOY

Hiday Hidaka Corp. said its normalized net income for the fiscal first quarter ended May 31 amounted to ¥20.25 per share, an increase from ¥20.01 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥700.6 million, a gain from ¥692.5 million in the prior-year period.

The normalized profit margin fell to 8.2% from 8.8% in the year-earlier period.

Total revenue rose 8.4% on an annual basis to ¥8.55 billion from ¥7.89 billion, and total operating expenses increased 9.7% from the prior-year period to ¥7.45 billion from ¥6.79 billion.

Reported net income came to ¥666.0 million, or ¥19.25 per share, compared to ¥660.0 million, or ¥19.08 per share, in the prior-year period.

As of July 11, US$1 was equivalent to ¥101.30.