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Aseed Holdings fiscal Q1 profit falls YOY

Aseed Holdings Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥8.41 per share, a decrease of 26.6% from ¥11.45 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥107.5 million, a decline of 27.7% from ¥148.8 million in the year-earlier period.

The normalized profit margin fell to 1.3% from 1.7% in the year-earlier period.

Total revenue declined 5.7% year over year to ¥8.21 billion from ¥8.71 billion, and total operating expenses fell 5.1% on an annual basis to ¥8.03 billion from ¥8.46 billion.

Reported net income decreased 47.9% on an annual basis to ¥87.0 million, or ¥6.80 per share, from ¥167.0 million, or ¥12.86 per share.

As of Aug. 12, US$1 was equivalent to ¥102.19.