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Chubu Suisan fiscal Q1 profit climbs 36.4% YOY

Chubu Suisan Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 was ¥31.41 per share, an increase of 40.0% from ¥22.43 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥56.3 million, a gain of 36.4% from ¥41.3 million in the year-earlier period.

The normalized profit margin rose to 0.6% from 0.4% in the year-earlier period.

Total revenue grew on an annual basis to ¥9.71 billion from ¥9.35 billion, and total operating expenses rose from the prior-year period to ¥9.68 billion from ¥9.33 billion.

Reported net income rose 43.5% from the prior-year period to ¥66.0 million, or ¥36.86 per share, from ¥46.0 million, or ¥25.01 per share.

As of Aug. 11, US$1 was equivalent to ¥102.12.