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Riken fiscal Q1 profit falls YOY

Riken Corp. said its normalized net income for the fiscal first quarter ended June 30 came to ¥88.60 per share, a decrease of 13.9% from ¥102.86 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥870.6 million, a decline of 13.9% from ¥1.01 billion in the year-earlier period.

The normalized profit margin declined to 4.9% from 5.9% in the year-earlier period.

Total revenue increased on an annual basis to ¥17.59 billion from ¥17.20 billion, and total operating expenses increased from the prior-year period to ¥16.35 billion from ¥15.87 billion.

Reported net income declined 13.2% on an annual basis to ¥956.1 million, or ¥97.25 per share, from ¥1.10 billion, or ¥112.10 per share.

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