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Paris Miki Holdings fiscal Q1 profit climbs 66.1% YOY

Paris Miki Holdings Inc. said its normalized net income for the fiscal first quarter ended June 30 was ¥5.79 per share, an increase of 66.1% from ¥3.49 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥298.1 million, a gain of 66.1% from ¥179.5 million in the prior-year period.

The normalized profit margin increased to 2.1% from 1.3% in the year-earlier period.

Total revenue decreased year over year to ¥13.87 billion from ¥14.12 billion, and total operating expenses declined year over year to ¥13.41 billion from ¥13.92 billion.

Reported net income fell 13.7% year over year to ¥227.0 million, or ¥4.41 per share, from ¥263.0 million, or ¥5.11 per share.

As of Aug. 12, US$1 was equivalent to ¥102.19.