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FJ Next fiscal Q1 profit falls YOY

FJ Next Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥11.21 per share, a decrease of 58.1% from ¥26.77 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥385.0 million, a decline of 53.8% from ¥833.1 million in the prior-year period.

The normalized profit margin fell to 4.6% from 8.6% in the year-earlier period.

Total revenue decreased 12.7% year over year to ¥8.45 billion from ¥9.68 billion, and total operating expenses fell 6.1% year over year to ¥7.83 billion from ¥8.34 billion.

Reported net income declined 70.0% year over year to ¥376.0 million, or ¥10.94 per share, from ¥1.25 billion, or ¥40.22 per share.

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