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Yonex fiscal Q1 profit climbs 69.1% YOY

Yonex Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 was ¥4.30 per share, an increase of 69.1% from ¥2.54 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥373.1 million, an increase of 69.1% from ¥220.6 million in the year-earlier period.

The normalized profit margin climbed to 3.2% from 2.1% in the year-earlier period.

Total revenue climbed 12.1% on an annual basis to ¥11.62 billion from ¥10.37 billion, and total operating expenses grew 8.1% on an annual basis to ¥11.01 billion from ¥10.18 billion.

Reported net income rose on an annual basis to ¥374.0 million, or ¥4.31 per share, from ¥176.0 million, or ¥2.03 per share.

As of Aug. 11, US$1 was equivalent to ¥102.12.