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Komatsu Seiren fiscal Q1 profit falls YOY

Komatsu Seiren Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥4.88 per share, a decline of 44.9% from ¥8.85 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥208.9 million, a decrease of 45.0% from ¥379.8 million in the year-earlier period.

The normalized profit margin dropped to 2.2% from 4.1% in the year-earlier period.

Total revenue increased year over year to ¥9.36 billion from ¥9.26 billion, and total operating expenses increased year over year to ¥9.25 billion from ¥8.93 billion.

Reported net income declined 53.6% year over year to ¥216.0 million, or ¥5.05 per share, from ¥466.0 million, or ¥10.86 per share.

As of Aug. 13, US$1 was equivalent to ¥102.37.