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Art Vivant fiscal Q1 profit falls YOY

Art Vivant Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to ¥7.89 per share, a decline of 31.3% from ¥11.47 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥103.1 million, a decline of 31.3% from ¥150.0 million in the year-earlier period.

The normalized profit margin fell to 7.7% from 11.4% in the year-earlier period.

Total revenue increased year over year to ¥1.34 billion from ¥1.31 billion, and total operating expenses climbed 7.0% from the prior-year period to ¥1.18 billion from ¥1.10 billion.

Reported net income fell 30.3% from the prior-year period to ¥101.0 million, or ¥7.72 per share, from ¥145.0 million, or ¥11.09 per share.

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