Nippon Paint Holdings Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥22.98 per share, a decrease of 8.5% from ¥25.12 per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥5.99 billion, a decline of 9.9% from ¥6.65 billion in the prior-year period.
The normalized profit margin dropped to 9.6% from 10.8% in the year-earlier period.
Total revenue rose year over year to ¥62.56 billion from ¥61.76 billion, and total operating expenses increased year over year to ¥54.47 billion from ¥53.93 billion.
Reported net income fell 16.6% on an annual basis to ¥6.10 billion, or ¥23.38 per share, from ¥7.31 billion, or ¥27.62 per share.
As of Aug. 7, US$1 was equivalent to ¥102.16.