Yorozu Corp. said its normalized net income for the fiscal first quarter ended June 30 was ¥20.09 per share, a decrease of 51.6% from ¥41.52 per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥408.5 million, a decrease of 51.5% from ¥842.5 million in the prior-year period.
The normalized profit margin dropped to 1.1% from 2.7% in the year-earlier period.
Total revenue rose 12.6% on an annual basis to ¥35.69 billion from ¥31.69 billion, and total operating expenses increased 12.6% year over year to ¥34.34 billion from ¥30.48 billion.
Reported net income fell 83.6% year over year to ¥81.5 million, or ¥4.01 per share, from ¥497.7 million, or ¥24.53 per share.
As of Aug. 8, US$1 was equivalent to ¥101.85.
