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Tokyo Ichiban Foods fiscal Q1 profit climbs 14.5% YOY

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Tokyo Ichiban Foods fiscal Q1 profit climbs 14.5% YOY

Tokyo Ichiban Foods Co. Ltd. said its normalized net income for the fiscal first quarter ended Dec. 31, 2014, came to ¥26.07 per share, a gain of 13.6% from ¥22.96 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥227.5 million, a gain of 14.5% from ¥198.8 million in the prior-year period.

The normalized profit margin rose to 17.8% from 16.4% in the year-earlier period.

Total revenue grew 5.5% year over year to ¥1.28 billion from ¥1.21 billion, and total operating expenses grew on an annual basis to ¥916.0 million from ¥898.0 million.

Reported net income increased 14.8% on an annual basis to ¥216.7 million, or ¥24.84 per share, from ¥188.7 million, or ¥21.80 per share.

As of Feb. 13, US$1 was equivalent to ¥118.68.