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Gakken Holdings swings to profit in fiscal Q1

Gakken Holdings Co. Ltd. said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, came to ¥9.42 per share, compared with a loss of ¥56.79 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥86.1 million, compared with a loss of ¥516.5 million in the prior-year period.

The normalized profit margin increased to 0.4% from negative 2.5% in the year-earlier period.

Total revenue increased 8.9% on an annual basis to ¥22.83 billion from ¥20.96 billion, and total operating expenses rose year over year to ¥22.72 billion from ¥21.80 billion.

Reported net income came to a loss of ¥53.0 million, or a loss of ¥5.80 per share, compared to a loss of ¥938.0 million, or a loss of ¥103.14 per share, in the year-earlier period.

As of Feb. 12, US$1 was equivalent to ¥112.83.