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Seven & i Holdings fiscal Q1 profit climbs 7.8% YOY

Seven & i Holdings Co. Ltd. said its normalized net income for the fiscal first quarter ended May 31 came to ¥52.25 per share, an increase of 7.7% from ¥48.50 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥46.22 billion, an increase of 7.8% from ¥42.88 billion in the year-earlier period.

The normalized profit margin declined to 3.1% from 3.1% in the year-earlier period.

Total revenue increased 7.9% on an annual basis to ¥1.472 trillion from ¥1.365 trillion, and total operating expenses increased 8.0% year over year to ¥1.395 trillion from ¥1.291 trillion.

Reported net income increased 5.6% on an annual basis to ¥39.52 billion, or ¥44.67 per share, from ¥37.44 billion, or ¥42.34 per share.

As of July 14, US$1 was equivalent to ¥101.58.