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OUG Holdings swings to profit in fiscal Q1

OUG Holdings Inc. said its normalized net income for the fiscal first quarter ended June 30 amounted to 92 Japanese sen per share, compared with a loss of ¥1.03 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥5.0 million, compared with a loss of ¥5.6 million in the year-earlier period.

The normalized profit margin increased to 0.0% from negative 0.0% in the year-earlier period.

Total revenue climbed year over year to ¥73.87 billion from ¥71.09 billion, and total operating expenses increased from the prior-year period to ¥73.93 billion from ¥71.15 billion.

Reported net income came to a loss of ¥69.0 million, or a loss of ¥12.63 per share, compared to a loss of ¥200.0 million, or a loss of ¥36.61 per share, in the prior-year period.

As of Aug. 13, US$1 was equivalent to ¥102.37.