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Canon Marketing Japan Q1 profit falls YOY

Canon Marketing Japan Inc. said its first-quarter normalized net income came to ¥18.02 per share, a decrease of 60.1% from ¥45.12 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥2.34 billion, a decline of 60.1% from ¥5.85 billion in the prior-year period.

The normalized profit margin fell to 1.5% from 3.2% in the year-earlier period.

Total revenue decreased 15.0% year over year to ¥155.37 billion from ¥182.70 billion, and total operating expenses fell 12.4% on an annual basis to ¥151.90 billion from ¥173.47 billion.

Reported net income decreased 67.6% on an annual basis to ¥1.85 billion, or ¥14.25 per share, from ¥5.71 billion, or ¥44.01 per share.

As of May 14, US$1 was equivalent to ¥119.24.