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Sotsu fiscal Q1 profit falls YOY

Sotsu Co.Ltd. said its normalized net income for the fiscal first quarter ended Nov. 30, 2015, was ¥24.21 per share, a decline of 13.8% from ¥28.07 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥355.3 million, a decrease of 19.3% from ¥440.0 million in the year-earlier period.

The normalized profit margin fell to 7.6% from 8.3% in the year-earlier period.

Total revenue fell 12.2% year over year to ¥4.64 billion from ¥5.29 billion, and total operating expenses declined 10.5% year over year to ¥4.09 billion from ¥4.57 billion.

Reported net income declined 8.1% year over year to ¥410.0 million, or ¥27.94 per share, from ¥446.0 million, or ¥28.45 per share.

As of Jan. 13, US$1 was equivalent to ¥118.29.