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Hachi-Ban fiscal Q1 profit falls YOY

Hachi-Ban Co. Ltd. said its normalized net income for the fiscal first quarter ended June 20 was ¥33.25 per share, a decrease of 17.1% from ¥40.10 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥106.5 million, a decrease of 8.4% from ¥116.3 million in the year-earlier period.

The normalized profit margin declined to 6.3% from 7.1% in the year-earlier period.

Total revenue increased year over year to ¥1.68 billion from ¥1.64 billion, and total operating expenses climbed from the prior-year period to ¥1.60 billion from ¥1.54 billion.

Reported net income declined 6.8% year over year to ¥96.0 million, or ¥29.97 per share, from ¥103.0 million, or ¥35.53 per share.

As of July 25, US$1 was equivalent to ¥101.81.