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Kan-Nanmaru fiscal Q1 profit falls YOY

Kan-Nanmaru Corp. said its normalized net income for the fiscal first quarter ended Sept. 30 amounted to ¥1.80 per share, a decrease of 47.6% from ¥3.44 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥6.9 million, a decline of 47.6% from ¥13.1 million in the prior-year period.

The normalized profit margin fell to 0.5% from 0.9% in the year-earlier period.

Total revenue declined 5.4% on an annual basis to ¥1.34 billion from ¥1.42 billion, and total operating expenses fell from the prior-year period to ¥1.33 billion from ¥1.40 billion.

As of Nov. 13, US$1 was equivalent to ¥122.78.