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Taiho Kogyo fiscal Q1 profit falls YOY

Taiho Kogyo Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to ¥25.11 per share, a decline of 7.3% from ¥27.10 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥719.0 million, a decrease of 7.2% from ¥775.1 million in the year-earlier period.

The normalized profit margin declined to 3.0% from 3.5% in the year-earlier period.

Total revenue grew 7.8% year over year to ¥24.15 billion from ¥22.41 billion, and total operating expenses climbed 7.7% on an annual basis to ¥22.98 billion from ¥21.34 billion.

Reported net income decreased 7.0% on an annual basis to ¥787.4 million, or ¥27.50 per share, from ¥846.7 million, or ¥29.60 per share.

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