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Rhythm Watch fiscal Q1 profit climbs 16.6% YOY

Rhythm Watch Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to ¥21.30 per share, a gain of 16.6% from ¥18.27 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥246.3 million, an increase of 16.6% from ¥211.3 million in the prior-year period.

The normalized profit margin climbed to 3.0% from 2.9% in the year-earlier period.

Total revenue climbed 12.9% on an annual basis to ¥8.34 billion from ¥7.39 billion, and total operating expenses grew 11.7% year over year to ¥8.08 billion from ¥7.24 billion.

Reported net income rose 16.0% year over year to ¥246.0 million, or ¥21.28 per share, from ¥212.0 million, or ¥18.33 per share.

As of Aug. 8, US$1 was equivalent to ¥101.85.