Chimney Co. Ltd. said its first-quarter normalized net income came to ¥27.14 per share, a gain of 16.2% from ¥23.35 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥526.3 million, an increase of 16.9% from ¥450.0 million in the year-earlier period.

The normalized profit margin climbed to 4.6% from 4.0% in the year-earlier period.

Total revenue climbed on an annual basis to ¥11.32 billion from ¥11.12 billion, and total operating expenses totaled ¥10.51 billion, compared with ¥10.43 billion in the prior-year period.

Reported net income rose 20.4% from the prior-year period to ¥452.4 million, or ¥23.33 per share, from ¥375.7 million, or ¥19.49 per share.

As of May 14, US$1 was equivalent to ¥119.24.