Nippon Paint Holdings Co. Ltd. said its first-quarter normalized net income came to ¥15.95 per share, a decrease of 9.1% from ¥17.55 per share in the first quarter ended June 30, 2015.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥5.12 billion, a decline of 9.1% from ¥5.63 billion in the first quarter ended June 30, 2015.
The normalized profit margin fell to 3.8% from 4.7% in the year-earlier period.
Total revenue grew 13.0% year over year to ¥135.78 billion from ¥120.17 billion, and total operating expenses increased 11.7% from the prior-year period to ¥119.70 billion from ¥107.19 billion.
Reported net income grew 25.3% on an annual basis to ¥5.86 billion, or ¥18.26 per share, from ¥4.67 billion, or ¥14.58 per share.
As of May 15, US$1 was equivalent to ¥113.61.