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Heiwa fiscal Q1 profit climbs 62.0% YOY

Heiwa Corp. said its normalized net income for the fiscal first quarter ended June 30 came to ¥131.82 per share, a gain of 61.9% from ¥81.41 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥11.32 billion, a gain of 62.0% from ¥6.99 billion in the prior-year period.

The normalized profit margin increased to 17.7% from 15.7% in the year-earlier period.

Total revenue rose 43.9% on an annual basis to ¥63.87 billion from ¥44.38 billion, and total operating expenses grew 38.9% year over year to ¥44.59 billion from ¥32.10 billion.

Reported net income grew 59.8% on an annual basis to ¥11.36 billion, or ¥132.29 per share, from ¥7.11 billion, or ¥82.86 per share.

As of Aug. 8, US$1 was equivalent to ¥101.85.