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East Japan Railway fiscal Q1 profit falls YOY

East Japan Railway Co. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥163.46 per share, a decrease from ¥171.37 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥64.36 billion, a decrease of 4.9% from ¥67.70 billion in the year-earlier period.

The normalized profit margin dropped to 9.8% from 10.3% in the year-earlier period.

Total revenue came to ¥658.04 billion, compared with ¥654.31 billion in the year-earlier period, and total operating expenses rose from the prior-year period to ¥536.53 billion from ¥525.21 billion.

Reported net income decreased 9.8% on an annual basis to ¥66.45 billion, or ¥168.78 per share, from ¥73.70 billion, or ¥186.57 per share.

As of Aug. 6, US$1 was equivalent to ¥102.36.