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Suminoe Textile fiscal Q1 profit falls YOY

Suminoe Textile Co. Ltd. said its normalized net income for the fiscal first quarter ended Aug. 31 was ¥29.89 per share, a decline of 21.5% from ¥38.08 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥225.5 million, a decrease of 21.5% from ¥287.4 million in the year-earlier period.

The normalized profit margin fell to 1.1% from 1.4% in the year-earlier period.

Total revenue totaled ¥19.87 billion, compared with ¥20.04 billion in the prior-year period, and total operating expenses totaled ¥19.62 billion, compared with ¥19.64 billion in the prior-year period.

Reported net income fell 33.4% on an annual basis to ¥221.0 million, or ¥29.29 per share, from ¥332.0 million, or ¥44.00 per share.

As of Oct. 14, US$1 was equivalent to ¥107.05.