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Toyota Boshoku fiscal Q1 profit falls YOY

Toyota Boshoku Corp. said its normalized net income for the fiscal first quarter ended June 30 came to ¥15.40 per share, a decrease of 51.1% from ¥31.51 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥2.85 billion, a decrease of 51.1% from ¥5.84 billion in the prior-year period.

The normalized profit margin dropped to 0.9% from 2.0% in the year-earlier period.

Total revenue climbed 5.2% on an annual basis to ¥307.84 billion from ¥292.50 billion, and total operating expenses increased 5.5% year over year to ¥300.47 billion from ¥284.90 billion.

Reported net income declined 54.1% on an annual basis to ¥3.44 billion, or ¥18.57 per share, from ¥7.51 billion, or ¥40.50 per share.

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