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ARTE Salon Holdings Q1 profit climbs YOY

ARTE Salon Holdings Inc. said its first-quarter normalized net income was ¥2.43 per share, a gain from 68 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 ¥24.4 million, a gain from ¥6.9 million in the prior-year period.

The normalized profit margin rose to 1.4% from 0.4% in the year-earlier period.

Total revenue climbed on an annual basis to ¥1.70 billion from ¥1.68 billion, and total operating expenses came to ¥1.68 billion, compared with ¥1.68 billion in the prior-year period.

Reported net income totaled ¥1.0 million, or 10 sen per share, compared to a loss of ¥21.0 million, or a loss of ¥2.09 per share, in the year-earlier period.

As of May 13, US$1 was equivalent to ¥109.14.