Megmilk Snow Brand Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 was ¥26.78 per share, a decrease of 13.5% from ¥30.94 per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.82 billion, a decrease of 13.5% from ¥2.10 billion in the year-earlier period.
The normalized profit margin fell to 1.3% from 1.6% in the year-earlier period.
Total revenue totaled ¥136.05 billion, compared with ¥134.87 billion in the year-earlier period, and total operating expenses increased from the prior-year period to ¥133.41 billion from ¥131.67 billion.
Reported net income declined 33.6% on an annual basis to ¥1.03 billion, or ¥15.18 per share, from ¥1.55 billion, or ¥22.87 per share.
As of Aug. 8, US$1 was equivalent to ¥101.85.
