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Yamada Denki fiscal Q1 profit climbs YOY

Yamada Denki Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥1.26 per share, a gain from 4 sen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.10 billion, a gain from ¥37.3 million in the prior-year period.

The normalized profit margin climbed to 0.3% from 0.0% in the year-earlier period.

Total revenue fell on an annual basis to ¥413.59 billion from ¥428.91 billion, and total operating expenses declined from the prior-year period to ¥413.56 billion from ¥432.80 billion.

Reported net income came to ¥324.4 million, or 37 sen per share, compared to a loss of ¥5.81 billion, or a loss of ¥6.16 per share, in the year-earlier period.

As of Aug. 14, US$1 was equivalent to ¥102.44.