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Meiko Network Japan fiscal Q1 profit climbs YOY

Meiko Network Japan Co. Ltd. said its normalized net income for the fiscal first quarter ended Nov. 30, 2015, was ¥8.60 per share, an increase from ¥8.49 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥235.6 million, compared with ¥234.4 million in the year-earlier period.

The normalized profit margin declined to 5.7% from 6.0% in the year-earlier period.

Total revenue climbed 6.1% year over year to ¥4.11 billion from ¥3.88 billion, and total operating expenses rose 6.3% from the prior-year period to ¥3.77 billion from ¥3.54 billion.

Reported net income totaled a loss of ¥94.0 million, or a loss of ¥3.43 per share, compared to income of ¥353.0 million, or ¥12.79 per share, in the year-earlier period.

As of Jan. 13, US$1 was equivalent to ¥118.29.