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Yutaka Giken fiscal Q1 profit falls YOY

Yutaka Giken Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥88.30 per share, a decrease of 11.7% from ¥100.02 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.31 billion, a decrease of 11.7% from ¥1.48 billion in the prior-year period.

The normalized profit margin dropped to 2.7% from 3.2% in the year-earlier period.

Total revenue grew 5.5% on an annual basis to ¥48.32 billion from ¥45.80 billion, and total operating expenses grew 5.7% year over year to ¥45.73 billion from ¥43.28 billion.

Reported net income fell 25.9% year over year to ¥1.32 billion, or ¥88.95 per share, from ¥1.78 billion, or ¥120.06 per share.

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