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Press Kogyo fiscal Q1 profit falls YOY

Press Kogyo Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 was ¥13.06 per share, a decrease from ¥13.59 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.42 billion, a decline from ¥1.48 billion in the prior-year period.

The normalized profit margin fell to 3.1% from 3.4% in the year-earlier period.

Total revenue grew 6.9% year over year to ¥46.37 billion from ¥43.36 billion, and total operating expenses climbed 7.0% from the prior-year period to ¥44.08 billion from ¥41.21 billion.

Reported net income fell 23.2% year over year to ¥1.34 billion, or ¥12.36 per share, from ¥1.75 billion, or ¥16.10 per share.

As of Aug. 7, US$1 was equivalent to ¥102.16.