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Koito Manufacturing fiscal Q1 profit climbs 52.2% YOY

Koito Manufacturing Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to ¥84.31 per share, an increase of 52.2% from ¥55.39 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥13.55 billion, a gain of 52.2% from ¥8.90 billion in the prior-year period.

The normalized profit margin climbed to 6.2% from 4.8% in the year-earlier period.

Total revenue grew 17.0% on an annual basis to ¥219.34 billion from ¥187.41 billion, and total operating expenses increased 15.3% year over year to ¥196.06 billion from ¥170.11 billion.

Reported net income increased 46.0% on an annual basis to ¥14.60 billion, or ¥90.82 per share, from ¥10.00 billion, or ¥62.22 per share.

As of Aug. 3, US$1 was equivalent to ¥110.06.