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Flying Garden fiscal Q1 profit climbs YOY

Flying Garden Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 was ¥24.21 per share, an increase from ¥8.21 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥35.0 million, an increase from ¥11.9 million in the prior-year period.

The normalized profit margin rose to 2.0% from 0.7% in the year-earlier period.

Total revenue increased on an annual basis to ¥1.77 billion from ¥1.74 billion, and total operating expenses came to ¥1.71 billion, compared with ¥1.72 billion in the prior-year period.

Reported net income increased year over year to ¥24.0 million, or ¥16.60 per share, from ¥4.0 million, or ¥2.77 per share.

As of Aug. 12, US$1 was equivalent to ¥123.89.