Harada Industry Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥11.32 per share, an increase of 12.9% from ¥10.03 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥246.3 million, an increase of 12.9% from ¥218.1 million in the prior-year period.

The normalized profit margin declined to 2.5% from 2.6% in the year-earlier period.

Total revenue rose 17.8% on an annual basis to ¥9.82 billion from ¥8.33 billion, and total operating expenses rose 16.4% year over year to ¥9.41 billion from ¥8.09 billion.

Reported net income grew 46.8% year over year to ¥229.0 million, or ¥10.53 per share, from ¥156.0 million, or ¥7.17 per share.

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