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Mitsubishi Shokuhin fiscal Q1 profit falls YOY

Mitsubishi Shokuhin Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥23.87 per share, a decline of 32.8% from ¥35.51 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.36 billion, a decline of 32.8% from ¥2.03 billion in the year-earlier period.

The normalized profit margin declined to 0.2% from 0.3% in the year-earlier period.

Total revenue came to ¥577.21 billion, compared with ¥579.62 billion in the year-earlier period, and total operating expenses came to ¥575.70 billion, compared with ¥576.89 billion in the prior-year period.

Reported net income declined 42.0% from the prior-year period to ¥1.34 billion, or ¥23.38 per share, from ¥2.30 billion, or ¥40.30 per share.

As of Aug. 14, US$1 was equivalent to ¥102.44.