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Fujio Food System Q1 profit climbs YOY

Fujio Food System Co. Ltd. said its normalized net income for the first quarter came to ¥21.90 per share, compared with ¥21.77 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥481.9 million, a gain from ¥475.0 million in the year-earlier period.

The normalized profit margin fell to 6.0% from 6.6% in the year-earlier period.

Total revenue increased 11.8% on an annual basis to ¥8.06 billion from ¥7.21 billion, and total operating expenses climbed 13.1% from the prior-year period to ¥7.27 billion from ¥6.43 billion.

Reported net income grew 5.1% year over year to ¥448.1 million, or ¥20.36 per share, from ¥426.2 million, or ¥19.53 per share.

As of May 11, US$1 was equivalent to ¥119.93.