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Trust fiscal Q1 profit climbs 43.7% YOY

Trust Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to ¥4.99 per share, a gain of 43.7% from ¥3.47 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥129.0 million, a gain of 43.7% from ¥89.8 million in the prior-year period.

The normalized profit margin climbed to 2.8% from 2.2% in the year-earlier period.

Total revenue grew 9.6% year over year to ¥4.55 billion from ¥4.16 billion, and total operating expenses grew 8.2% on an annual basis to ¥4.23 billion from ¥3.91 billion.

Reported net income rose 46.8% from the prior-year period to ¥138.0 million, or ¥5.33 per share, from ¥94.0 million, or ¥3.63 per share.

As of Aug. 7, US$1 was equivalent to ¥124.28.