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Pickles Corp. fiscal Q1 profit falls YOY

Pickles Corp. said its normalized net income for the fiscal first quarter ended May 31 came to ¥40.03 per share, a decrease of 17.4% from ¥48.48 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥250.3 million, a decline of 19.3% from ¥310.0 million in the year-earlier period.

The normalized profit margin dropped to 3.7% from 4.8% in the year-earlier period.

Total revenue climbed 5.0% year over year to ¥6.82 billion from ¥6.49 billion, and total operating expenses grew 6.8% on an annual basis to ¥6.43 billion from ¥6.02 billion.

Reported net income fell 73.3% from the prior-year period to ¥80.0 million, or ¥12.80 per share, from ¥300.0 million, or ¥46.91 per share.

As of July 15, US$1 was equivalent to ¥101.70.