Marusan Securities net profit jumps 52% despite revenue decline

Marusan Securities reported net profit jumped 52.1% to 1.38 billion yen in its first quarter despite operating revenue falling 12.3% to 4.37 billion yen.

Operating profit plunged 62.1% to 395 million yen and ordinary profit dropped 48.6% to 671 million yen. The net profit surge was driven by increased special gains.

Earnings per share rose to 20.92 yen from 13.79 yen. The company absorbed subsidiary Marusan Finance during the quarter.