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Marutai swings to profit in fiscal Q1

Marutai Co.Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥8.50 per share, compared with a loss of ¥40.55 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥16.3 million, compared with a loss of ¥77.5 million in the prior-year period.

The normalized profit margin climbed to 0.9% from negative 4.8% in the year-earlier period.

Total revenue increased 10.3% year over year to ¥1.79 billion from ¥1.62 billion, and total operating expenses totaled ¥1.77 billion, compared with ¥1.75 billion in the year-earlier period.

Reported net income totaled ¥20.0 million, or ¥10.47 per share, compared to a loss of ¥128.0 million, or a loss of ¥66.98 per share, in the year-earlier period.

As of Aug. 10, US$1 was equivalent to ¥124.53.