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Life Corp. fiscal Q1 profit climbs YOY

Life Corp. said its normalized net income for the fiscal first quarter ended May 31 came to ¥27.84 per share, a gain from ¥27.38 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.45 billion, an increase from ¥1.44 billion in the prior-year period.

The normalized profit margin dropped to 1.0% from 1.1% in the year-earlier period.

Total revenue increased 8.8% on an annual basis to ¥140.40 billion from ¥129.10 billion, and total operating expenses climbed 8.8% on an annual basis to ¥138.06 billion from ¥126.91 billion.

Reported net income fell 6.0% from the prior-year period to ¥1.20 billion, or ¥23.01 per share, from ¥1.28 billion, or ¥24.37 per share.

As of July 15, US$1 was equivalent to ¥101.70.