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TS Tech fiscal Q1 profit falls YOY

TS Tech Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 was ¥68.75 per share, a decrease of 14.0% from ¥79.92 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥4.67 billion, a decline of 14.0% from ¥5.43 billion in the year-earlier period.

The normalized profit margin declined to 4.3% from 5.1% in the year-earlier period.

Total revenue rose on an annual basis to ¥108.28 billion from ¥106.86 billion, and total operating expenses climbed year over year to ¥99.47 billion from ¥96.44 billion.

Reported net income fell 9.7% from the prior-year period to ¥5.38 billion, or ¥79.13 per share, from ¥5.96 billion, or ¥87.63 per share.

As of Aug. 8, US$1 was equivalent to ¥101.85.