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Exedy fiscal Q1 profit falls YOY

4550000 said its normalized net income for the fiscal first quarter ended June 30 came to ¥54.74 per share, a decline of 6.5% from ¥58.53 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥2.63 billion, a decrease of 6.4% from ¥2.81 billion in the prior-year period.

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

Total revenue grew 11.8% on an annual basis to ¥61.22 billion from ¥54.74 billion, and total operating expenses increased 11.1% on an annual basis to ¥56.29 billion from ¥50.68 billion.

Reported net income fell 9.7% year over year to ¥2.43 billion, or ¥50.60 per share, from ¥2.69 billion, or ¥56.04 per share.

s of Aug. 8, US$1 was equivalent to ¥101.85.Exedy Corp.

4550000 said its normalized net income for the fiscal first quarter ended June 30 came to ¥54.74 per share, a decline of 6.5% from ¥58.53 per share in the year-earlier period.