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Mbs Inc. fiscal Q1 profit climbs YOY

Mbs Inc. said its normalized net income for the fiscal first quarter ended Aug. 31 came to ¥2.58 per share, a gain from 62 sen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥15.6 million, a gain from ¥3.8 million in the year-earlier period.

The normalized profit margin climbed to 4.5% from 1.0% in the year-earlier period.

Total revenue declined year over year to ¥349.0 million from ¥363.0 million, and total operating expenses decreased 6.7% on an annual basis to ¥335.0 million from ¥359.0 million.

Reported net income grew on an annual basis to ¥41.0 million, or ¥6.78 per share, from ¥3.0 million, or 49 sen per share.

As of Oct. 10, US$1 was equivalent to ¥107.98.