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NHK Spring fiscal Q1 profit falls YOY

NHK Spring Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to ¥20.02 per share, a decline of 9.8% from ¥22.19 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥4.86 billion, a decline of 9.8% from ¥5.39 billion in the year-earlier period.

The normalized profit margin declined to 3.4% from 4.0% in the year-earlier period.

Total revenue rose 6.4% on an annual basis to ¥142.35 billion from ¥133.75 billion, and total operating expenses rose 6.4% from the prior-year period to ¥134.22 billion from ¥126.15 billion.

Reported net income increased on an annual basis to ¥6.54 billion, or ¥26.91 per share, from ¥6.40 billion, or ¥26.33 per share.

As of Aug. 8, US$1 was equivalent to ¥101.85.