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Nikon fiscal Q1 profit falls YOY

Nikon Corp. said its normalized net income for the fiscal first quarter ended June 30 was ¥7.32 per share, a decline of 9.7% from ¥8.10 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥2.91 billion, a decline of 9.6% from ¥3.22 billion in the year-earlier period.

The normalized profit margin rose to 1.6% from 1.3% in the year-earlier period.

Total revenue declined 25.7% year over year to ¥177.44 billion from ¥238.98 billion, and total operating expenses fell 25.3% year over year to ¥173.94 billion from ¥232.95 billion.

Reported net income declined 16.6% from the prior-year period to ¥3.70 billion, or ¥9.31 per share, from ¥4.44 billion, or ¥11.17 per share.

As of Aug. 7, US$1 was equivalent to ¥102.16.