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Ginza Yamagataya fiscal Q1 profit climbs 31.2% YOY

Ginza Yamagataya Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥51.78 per share, a gain of 31.2% from ¥39.46 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥89.4 million, a gain of 31.2% from ¥68.1 million in the prior-year period.

The normalized profit margin rose to 7.3% from 6.0% in the year-earlier period.

Total revenue rose 7.8% year over year to ¥1.23 billion from ¥1.14 billion, and total operating expenses grew 7.1% from the prior-year period to ¥1.13 billion from ¥1.05 billion.

Reported net income rose 24.8% on an annual basis to ¥131.0 million, or ¥75.89 per share, from ¥105.0 million, or ¥60.82 per share.

As of Aug. 12, US$1 was equivalent to ¥102.19.