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Pressance fiscal Q1 profit falls YOY

Pressance Corp. Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 was ¥59.17 per share, a decrease of 15.5% from ¥70.00 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥3.64 billion, a decrease of 15.0% from ¥4.28 billion in the prior-year period.

The normalized profit margin fell to 15.6% from 17.0% in the year-earlier period.

Total revenue declined 7.7% on an annual basis to ¥23.31 billion from ¥25.26 billion, and total operating expenses decreased 5.2% on an annual basis to ¥17.45 billion from ¥18.40 billion.

Reported net income declined year over year to ¥3.75 billion, or ¥60.93 per share, from ¥3.94 billion, or ¥64.38 per share.

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