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Pigeon Corp. fiscal Q1 profit climbs 21.4% YOY

Pigeon Corp. said its normalized net income for the fiscal first quarter ended April 30 amounted to ¥13.55 per share, a gain of 21.6% from ¥11.14 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.62 billion, an increase of 21.4% from ¥1.34 billion in the prior-year period.

The normalized profit margin climbed to 8.6% from 7.9% in the year-earlier period.

Total revenue increased 11.6% on an annual basis to ¥18.86 billion from ¥16.89 billion, and total operating expenses increased 8.0% on an annual basis to ¥16.17 billion from ¥14.98 billion.

Reported net income rose 33.4% from the prior-year period to ¥1.77 billion, or ¥14.78 per share, from ¥1.33 billion, or ¥11.06 per share.

As of June 6, US$1 was equivalent to ¥102.56.