Seven & i's (TYO:3382) net income attributable to owners of the parent rose 24% to 60.6 billion yen for the fiscal first quarter from 49 billion yen a year earlier.
The retailer's net income per share increased to 26.21 yen for the three months ended May 31 from 18.96 yen a year ago, according to a Tokyo bourse filing on Thursday.
Revenues from operations dropped 14% to 2.379 trillion yen from 2.777 trillion yen in the prior-year period.
In a separate filing, Seven & i raised its full-year net income forecast to 278 billion yen from 270 billion yen initially, net income per share to 120.89 yen from 117.42 yen and revenues from operations to 10.43 trillion yen from 9.448 trillion yen.
The upward revision was driven by stronger-than-expected gasoline revenues at its U.S. convenience store operations and a weaker yen, with the exchange rate assumption adjusted to 157 yen per dollar for the full year.
Seven & i plans to pay interim and year-end dividends of 30 yen per share, each, for the current year, which is higher than the total 50 yen per share paid in the prior year.