Village Vanguard Co. LTD. said its normalized net income for the fiscal first quarter ended Aug. 31 amounted to ¥10.39 per share, a decrease of 52.0% from ¥21.65 per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥80.0 million, a decline of 52.1% from ¥166.9 million in the year-earlier period.
The normalized profit margin declined to 0.7% from 1.6% in the year-earlier period.
Total revenue rose 8.6% year over year to ¥11.12 billion from ¥10.24 billion, and total operating expenses increased 10.4% year over year to ¥10.99 billion from ¥9.96 billion.
Reported net income fell 81.2% on an annual basis to ¥17.3 million, or ¥2.21 per share, from ¥92.0 million, or ¥11.94 per share.
As of Oct. 15, US$1 was equivalent to ¥106.21.
