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LaOX Q1 profit climbs YOY

LaOX Co. Ltd. said its normalized net income for the first quarter was ¥20.27 per share, an increase from 45 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.12 billion, an increase from ¥24.4 million in the prior-year period.

The normalized profit margin increased to 6.1% from 0.3% in the year-earlier period.

Total revenue rose 93.1% year over year to ¥18.21 billion from ¥9.43 billion, and total operating expenses rose 75.5% on an annual basis to ¥16.45 billion from ¥9.37 billion.

Reported net income grew on an annual basis to ¥1.75 billion, or ¥31.82 per share, from ¥13.0 million, or 24 sen per share.

As of May 13, US$1 was equivalent to ¥119.08.