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Weds Co. fiscal Q1 profit climbs YOY

Weds Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 was ¥15.44 per share, compared with ¥15.32 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥255.6 million, compared with ¥253.8 million in the year-earlier period.

The normalized profit margin increased to 5.4% from 5.0% in the year-earlier period.

Total revenue decreased 7.9% year over year to ¥4.71 billion from ¥5.11 billion, and total operating expenses decreased 8.6% on an annual basis to ¥4.31 billion from ¥4.71 billion.

Reported net income rose year over year to ¥255.0 million, or ¥15.40 per share, from ¥250.0 million, or ¥15.10 per share.

As of Aug. 7, US$1 was equivalent to ¥102.16.