Hokuryo Co. Ltd. said its normalized net income for the fiscal first quarter ended Nov. 30, 2015, was ¥54.97 per share, an increase of 48.2% from ¥37.10 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥410.0 million, an increase of 89.6% from ¥216.3 million in the year-earlier period.

The normalized profit margin increased to 9.9% from 5.6% in the year-earlier period.

Total revenue increased 7.6% year over year to ¥4.14 billion from ¥3.85 billion, and total operating expenses came to ¥3.50 billion, compared with ¥3.52 billion in the prior-year period.

Reported net income rose 81.4% on an annual basis to ¥439.0 million, or ¥58.86 per share, from ¥242.0 million, or ¥41.52 per share.

As of Jan. 14, US$1 was equivalent to ¥118.06.