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Yoshinoya Holdings swings to profit in fiscal Q1

Yoshinoya Holdings Co. Ltd. said its normalized net income for the fiscal first quarter ended May 31 amounted to ¥11.47 per share, compared with a loss of ¥4.43 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥589.4 million, compared with a loss of ¥227.9 million in the year-earlier period.

The normalized profit margin climbed to 1.3% from negative 0.5% in the year-earlier period.

Total revenue climbed on an annual basis to ¥44.33 billion from ¥42.54 billion, and total operating expenses came to ¥43.44 billion, compared with ¥43.29 billion in the prior-year period.

Reported net income came to ¥555.0 million, or ¥10.80 per share, compared to a loss of ¥497.0 million, or a loss of ¥9.67 per share, in the prior-year period.

As of July 11, US$1 was equivalent to ¥101.30.