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Maruichi fiscal Q1 profit climbs YOY

Maruichi Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 was ¥3.94 per share, an increase from ¥1.26 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥90.8 million, an increase from ¥29.0 million in the prior-year period.

The normalized profit margin increased to 0.2% from 0.1% in the year-earlier period.

Total revenue climbed 5.6% year over year to ¥40.83 billion from ¥38.66 billion, and total operating expenses climbed 5.3% from the prior-year period to ¥40.77 billion from ¥38.71 billion.

Reported net income rose on an annual basis to ¥87.0 million, or ¥3.77 per share, from ¥17.0 million, or 74 sen per share.

As of Aug. 6, US$1 was equivalent to ¥102.36.