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Asahi fiscal Q1 profit climbs 29.5% YOY

Asahi Co. Ltd. said its normalized net income for the fiscal first quarter ended May 20 was ¥62.81 per share, a gain of 29.5% from ¥48.52 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.65 billion, an increase of 29.5% from ¥1.27 billion in the prior-year period.

The normalized profit margin increased to 10.6% from 9.4% in the year-earlier period.

Total revenue increased 15.5% year over year to ¥15.61 billion from ¥13.51 billion, and total operating expenses climbed 13.1% from the prior-year period to ¥12.98 billion from ¥11.48 billion.

Reported net income increased 30.9% from the prior-year period to ¥1.64 billion, or ¥62.58 per share, from ¥1.25 billion, or ¥47.79 per share.

As of July 1, US$1 was equivalent to ¥101.51.