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Miyoshi Oil & Fat Q1 profit climbs YOY

Miyoshi Oil & Fat Co. Ltd. said its first-quarter normalized net income was ¥5.95 per share, a gain from ¥5.68 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥61.3 million, a gain from ¥58.5 million in the year-earlier period.

The normalized profit margin increased to 0.6% from 0.5% in the year-earlier period.

Total revenue came to ¥11.04 billion, compared with ¥11.05 billion in the prior-year period, and total operating expenses totaled ¥11.00 billion, compared with ¥11.05 billion in the year-earlier period.

Reported net income totaled a loss of ¥37.0 million, or a loss of ¥3.59 per share, compared to income of ¥42.0 million, or ¥4.08 per share, in the year-earlier period.

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