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Hikari Furniture fiscal Q1 profit climbs 17.4% YOY

Hikari Furniture Co., Ltd. said its normalized net income for the fiscal first quarter ended June 30 was ¥89.53 per share, a gain of 17.4% from ¥76.28 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥316.9 million, a gain of 17.4% from ¥270.0 million in the year-earlier period.

The normalized profit margin climbed to 15.8% from 14.1% in the year-earlier period.

Total revenue climbed year over year to ¥2.01 billion from ¥1.92 billion, and total operating expenses totaled ¥1.51 billion, compared with ¥1.50 billion in the year-earlier period.

Reported net income rose 19.8% from the prior-year period to ¥321.0 million, or ¥90.70 per share, from ¥268.0 million, or ¥75.72 per share.

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